An institutional asset management specialist has launched its Australian operations with the help of a former J.P. Morgan executive.
Credit specialist GoldenTree Asset Management, which oversees about US$25 billion, will be led by newly appointed managing director Russell Taylor.
Taylor was most recently managing director and head of institutional sales for Australia and New Zealand at J.P. Morgan. He was responsible for the sales team's distribution of credit and alternative products to financial institutions in Australia and New Zealand.
During his 32-year tenure at J.P. Morgan, Taylor held key management and sales roles across credit derivatives, structured credit, and securitisation. He helped establish institutional coverage of fixed income and derivatives in Australia as well as help drive organisational diversity initiatives.
GoldenTree offers alternative and long-only strategies across high-yield bonds, leveraged loans, distressed debt, structured products, emerging markets and credit-themed equities.
An Australian presence is the firm's attempt to expand across the Asia Pacific having opened a Singapore office three years ago.
New York-headquartered GoldenTree was established in 2000 by founder and chief investment officer Steven Tananbaum. It also has a London office and employs more than 230 people globally, 26 of which are partners.
New York-based head of business development and partner, Kathy Sutherland said Australia has long been an important market for GoldenTree and is pleased to establish an on-the-ground presence in the region.
Commenting on his new role, Taylor said he is excited about the opportunity to work with a leader in the global credit markets and further expand GoldenTree's presence in the region.