Alcentra, an asset management firm focused on the sub-investment grade debt markets, has made senior management changes as part of its development plans for 2010 and to position itself for future growth.
Paul Hatfield, currently CIO and head of US operations, will become global CIO, based in London.
Mr Hatfield joined Alcentra in 2003 as a portfolio manager of European CLO funds and became head of US operations in 2008. During this time he has relocated Alcentra’s US business to New York and grown the assets under management to approximately $5bn, taking on management of BNY Mellon Capital Markets’ CLO and Mezzanine funds, as well as acquiring Rabobank’s CLO business in July of 2009.
Julian Colville, head of business development and Ron Grobeck, senior US portfolio manager, have been appointed as co-heads of the US business. Mr Colville will relocate to New York from London in March 2010 to focus principally on Alcentra’s North American, Japanese and Australian business development efforts.
Mr Grobeck joined Alcentra as part of the Rabobank CLO acquisition. He was previously head of Rabobank’s CLO operations.
In Europe, Simon Perry is promoted to head of business development EMEA ex-Japan. He joined Alcentra in May 2009 from UBS, where he was head of the bank’s European CLO business.
Mr Hatfield, Mr Colville, Mr Perry and Mr Grobeck report to David Forbes-Nixon, chairman and CEO of Alcentra. Paul Echausse will continue to run Alcentra’s US mezzanine business, reporting to Paul Hatfield.
Mr Forbes-Nixon said: “Our US business has had strong growth over the last two years under Mr Hatfield’s leadership and is now among the leading CLO managers in the US, complementing our strong position in Europe; Mr Hatfield experience will help us as we continue our expansion globally. Our ability to fill all these positions internally is recognition of the strength and depth of our management team.”