ING’s global securities finance team has hired Colin Bugler to head its new synthetic portfolio solutions team, reporting to Richard Pryce, head of equity lending and repo.
The creation of the synthetic portfolio solutions team, which incorporates the contracts for difference offering, is part of ING’s growth plan for its global securities finance business.
Bugler’s remit will be to enhance ING’s position as a provider of securities financing products to hedge funds, as well as expanding the range of products offered.
“Hedge funds are seeking greater credit diversification among their providers of both traditional prime brokerage and synthetic products. In addition, the market access ING can provide to emerging markets via its international network and broad product offering means we have a compelling proposition to offer hedge funds,” says Michael Baudo, co-head of ING’s global securities finance business.
ING says close alignment between its synthetic portfolio solutions and equity lending and repo teams will enable it to better service hedge funds by bringing together short coverage and client position financing capabilities within one group.
Bugler was most recently as head of global prime brokerage and equity finance at RBC Capital Markets. Prior to RBC, he held a similar position at Scotia Capital and previously spent 11 years in London with Merrill Lynch as head of international prime brokerage and securities lending and with HSBC as head of CFD trading.
