CQS has hired Michel Brogard, the former managing partner of Amber Capital, to boost its expansion efforts in the US.
Brogard has joined as CEO of the $18.4bn firm’s US entity, replacing Jeffrey Lindenbaum, who takes on a new role leading intermediary distribution after nine years with CQS.
Brogard will report to Xavier Rolet, former head of the London Stock Exchange, who was recruited by founder Sir Michael Hintze as firm-wide CEO in January.
Credit specialist CQS, which marks two decades in business this year, is aiming to make greater inroads in the US investor market as it looks to grow assets and business lines in 2019.
“Increasing our penetration in the North American market, which accounts for 55% of global financial assets, is essential as we broaden and deepen our investment capabilities to better serve our clients’ needs,” said Rolet.
Brogard co-founded Amber Capital, which specialises in southern European markets and invests across the capital structure, in 2005. He spent a decade with the firm before starting Lalaye Investments in 2016.
Amber was 122nd in the latest European Billion Dollar Club, while CQS was seventh, although its long-only assets accounted for more than half of the final number.
Brogard said his new employer “has built a stellar reputation and offers attractive investment solutions with an absolute return DNA at its core. These are qualities which will allow us to strengthen CQS’ footprint in North America.”
Hintze’s firm started a New York office in 2008. Directional Opportunities, the firm’s flagship multi-asset class strategy lost 3% in 2018 after gains in the previous two years. The fund is up 8.9% in the first quarter.
CQS hires US CEO to boost growth charge on EuroHedge.