RBS Securities tapped Brice Van Elswyk as head of client solutions for insurers in North America, a new position.
He will be based in Stamford, CT and report to Miles Hunt and Joe Carney, co-heads of client structuring and solutions, Americas.
Among other things, the structured solutions group helps insurance clients find capital to comply with regulations requiring them to set aside additional reserves for certain types of life policies, annuities and other insurance products. The group also helps insurance clients manage the risk that arises due to mismatches between their assets (where they invest premiums) and liabilities (exposure to potential future claims). Life insurers write contracts that may not pay out for 20 or 30 years or more, therefore it can be difficult to find assets that are not too risky but generate streams of revenue for a long period of time.
Before joining RBS Securities, Van Elswyk led the U.S. structuring group at Credit Suisse. Prior to that, he was with Deutsche Bank, where he worked in the strategic equity transaction group, tailoring structured solutions for U.S. corporations. He was also responsible for creating the New York-based private wealth management fixed income team, which marketed structured products to high net worth and middle market clients.
“We are excited about the opportunity to strategically expand our team and enhance the ways in which we help our insurance clients fulfill their financial objectives via market-based solutions,” Carney said in a press release. “Brice’s expertise and extensive structuring background in the U.S. will be integral to our ongoing initiatives to grow our business in North America.”