June 18, 2013 / 10:28 AM / 4 years ago

Goldman's Gilday becomes head of CLO origination

LONDON, June 18 (IFR) - Ian Gilday, Goldman Sachs’ former head of EMEA syndicate and leveraged capital markets, has assumed a new role as head of origination for collateralised loan obligations (CLOs) in the EMEA region, according to an internal memo obtained by IFR.

According to the memo, confirmed by Goldman Sachs, Gilday has relocated to the securities division, working in fixed income currency and commodities (FICC) credit as part of the move.

The is a newly created role and reflects an expected resurgence in CLO activity over the coming months.

Three new European CLOs managed by Apollo, Pramerica and Cairn, amounting to around EUR1bn in total, have already priced in 2013, and some analysts predict the market could grow to as much as EUR5bn in 2013.

In response to Gilday’s move and effective immediately, Littleton Glover will now head the EMEA leveraged finance origination team.

Previously, Glover led the team responsible for all leveraged finance transactions in the technology, media and telecommunications (TMT), financial institutions group (FIG), and real estate industry sectors throughout EMEA.

Michael Marsh will continue to lead EMEA leveraged finance capital markets.

Gilday joined Goldman Sachs in 2005. Prior to that he headed up the European leveraged capital markets team at Merrill Lynch.

The move comes on the back of a series of other organisational changes in Goldman’s debt markets team in recent months.

Earlier this year, Oliver Sedgwick was appointed sole head of investment-grade syndicate for the EMEA region. Previously, he co-headed the team with Martin Weber.

Weber was appointed head of the growth markets debt financing business for the region, while also continuing to lead the SSA debt origination business for EMEA. (Reporting By Josie Cox, editing by Natalie Harrison and Philip Wright)

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