Algomi, a provider of information-matching solutions for the optimisation of fixed income liquidity, has named Hugh Willis as a strategic advisor.
Willis (pictured), who is also an investor in the firm, is the co-founder of BlueBay Asset Management, a specialist fixed income credit manager with USD62.5 billion of assets under management.
He served as BlueBay’s chief executive from inception in 2001 until the end of 2013, a period which included the sale of the firm to the Royal Bank of Canada for USD1.6 billion in December 2010. He is currently BlueBay’s executive chairman.
“Hugh joins us at a key time for the company, as we continue to expand and enhance our offering. His unrivalled experience in scaling firms quickly, and the vast knowledge of credit, alternatives and asset management that he brings, will prove invaluable. We are very excited to have Hugh’s backing, and look forward to working with him,” says Michael Schmidt, chairman of Algomi.
Willis says: “Algomi is creating innovative solutions to what I regard as an important issue currently faced by fixed income markets: namely the need to square the increasing capital and regulatory pressures faced by banks on the one hand, with a continued need for fixed income market liquidity on the other. Algomi’s team is of high quality, the industrial logic of its proposition is undeniable, and I am very much looking forward to working with them.”