BlueBay Asset Hires Guibert, Kemp for Leveraged Finance Team

BlueBay Asset Management made two appointments to its global leveraged finance team as it seeks to strengthen coverage of Europe’s high-yield market.

Jean-Yves Guibert joins the London-based fixed-income manager as senior credit analyst, the company said in a statement. He was previously head of European high-yield sector specialists at BNP Paribas SA. Marc Kemp has been hired as institutional portfolio manager from JPMorgan Chase, where he was in charge of European high-yield sales.

BlueBay, a wholly owned unit of Royal Bank of Canada with $57 billion assets under management, is girding its high-yield business in expectation that “volatility will continue to feature for the foreseeable future,” Justin Jewell, co-head of global leveraged finance, said in the company’s statement.

New junk-bond sales in euros slumped 85 percent this year as volatility in global markets deterred speculative-grade companies from adding more debt. The average yield investors demand to hold the bonds rose to the highest in more than three years on Jan. 20 and outflows from high-yield funds reached $6 billion this year, according to Bank of America Merrill Lynch.

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