Gottex Brokers, interdealer brokers focusing on interest rate derivatives, is expanding its business by opening a London office.
The new office’s primary offering to institutional investors in Europe, the Middle East and around the world will be high yield cash bonds and illiquid and distress asset classes, mostly on credits.
Gottex, which is based in Lausanne and Munich, has focused on offering interest rate swaps for past 28 years. The company recently opened an office in the US, broking alternative assets.
Raphael Moreno, CEO of Gottex Brokers, said the firm adopted a new strategy from 2009 to expand geographically and grow its product offering.
“London is a very important centre for us for two reasons,” he told www.thetradenews.com. “The first is that London is a regulated centre, which we want to be a part of. The second is we want to be close to our clients, to understand their needs better and to provide them with a best in class service.”
Moreno said the firm would also benefit from the local marketplace, where it was easier to hire talented specialists who could add value to its services.
Gottex would remain “very opportunistic” in London and there was potential to extend the list of product offerings, he said. “If we feel there are some opportunities in developing our current businesses, we will definitely react to that.”
Moreno said the firm brings its history to the London market, which shows Gottex is well established and one of the key interest rate derivatives brokers.
“Our client base has always recognised the quality of our services,” he said. “We believe we can bring value to our clientele, who are very happy to see us entering this space and provide them with a valued service.”
The new London credit team comprises Robert Burns, Abid Hussain and Elka Truchan.
Burns joined Gottex from Avoca Capital, where he was director of sales and marketing. Hussain moved from Kleinwort Benson, where he was head of high-yield fixed income. He was previously at Citigroup, where he traded high-yield and investment grade credit. While Truchan joined from Vyapar Capital Market Partners, where she worked as director, e-commerce and sales.
The London office of Gottex Brokers is a subsidiary of the BaFin regulated Gottex GmbH Munich and is regulated by the Financial Conduct Authority.