(Bloomberg) -- Performance Trust Capital Partners launched its first office in Europe and hired two seasoned bankers as it seeks to expand its collateralized-loan obligations and asset-backed desks amid a record-setting year.
The investment bank, which focuses on community banks across the US, launched a new unit, PTUK Limited, last week, according to Eric Brown, president of Performance Trust's institutional group. Managing directors James Gray and Dan Bates will oversee PTUK's securitized products team in London and will both report to Brown.
"We feel like there's an opportunity in Europe," said Brown in an interview. "It feels probably like where the US was 10 years ago when it comes to banking and fixed income and securitization. We have experts that can go shoulder to shoulder with clients and really help them continue to grow and expand."
Gray brings more than 15 years expertise, having led European securitized and CLO syndicate teams at Deutsche Bank AG and JPMorgan Chase & Co. before helping launch Baird's European fixed-income division, Performance Trust said in a statement. Bates past experience spans over 10 years and includes both Credit Suisse and Baird.
--With assistance from Carmen Arroyo.
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