SC Lowy expands into European high-yield with new trading head
By Robert Smith
LONDON, June 2 (IFR) – SC Lowy has hired Hussein Nasser as head of European bond trading, a newly-created role aimed at building the Hong Kong-based firm’s European high-yield business.
SC Lowy is already active in loan trading in Europe and the addition of high-yield bonds will match the capabilities of its Asian business, with the exception of convertible bond trading.
Nasser was previously head of European corporate credit trading at Nomura International, but left the Japanese firm in mid 2014. Prior to this he traded high-yield at Lehman Brothers.
“Conditions in the euro high-yield arena favour a firm like SC Lowy,” said Nasser. “Low rates help keep fund flows into the high-yield market healthy, providing a stable backdrop for issuance and secondary activity.”
SC Lowy now has 12 employees in its London office, with a projected three to five new hires a year for the next two to three years.
Michel Lowy and Soo Cheon Lee founded the firm in Hong Kong in 2009, initially trading Asian loans before moving into high-yield bonds and other areas of fixed income.
(Reporting by Robert Smith, editing by Alex Chambers, Julian Baker)