F&C Asset Management hired Teimuraz Barbakadze from SG CIB, the investment-banking division of Societe Generale, as head of structured credit. It is a new position for F&C. Executives said the development of a CDO platform is among the firm's initiatives this year. Barbakadze will report to Jacob de Wit, head of fixed income, and will be responsible for structuring, marketing and distributing structured credit products.
Dresdner Kleinwort, the investment bank of Dresdner Bank AG, appointed Neil Walker as its new head of credit trading. In his new role, Walker's responsibilities include working on structured credit solutions, cash CDOs, ABS and exotics. It also includes the credit flow products business, which comprises investment-grade, high yield and emerging markets trading as well as syndication across all products, including rates and SNPP products. Walker reports to Mark Richardson, head of equity and credit derivatives, and he will be based in London. "In particular, we want to strengthen our cash CDO business plus our high yield and distressed trading platforms. Neil will also help our ongoing effort to ensure the closer working of credit trading and equity derivatives as we enhance our single unified structuring and risk-management platform across the two asset classes," Richardson said. In the past, Walker worked for Merrill Lynch and Bear Stearns.