Insight Investment, the asset management arm of UK-based HBOS, has recruited Judith Benson as director, money market sales. Her remit is to accelerate growth in Insight’s money market sales. Her recruitment comes on the back of continued strong performance by Insight Liquidity Funds, voted top sterling money market mutual fund earlier this year.
Benson will report to head of money market sales, Chris Oulton.
Benson has 21 years of experience in banking in the UK. After graduating from Oxford University she initially worked in Kleinwort Benson’s treasury department and was involved in developing its derivatives business in the mid 1980s. In 1989, she became associate director, treasury at Den norske Bank, co-founding DnB Capital Management, a hedge fund providing external investors with access to the Bank’s proprietary trading in the global markets. In 1998, Benson became principal consultant at Demica, a specialist software consultancy providing securitisation solutions to investment banks, corporates and their advisers.
“In Judith Benson, Insight has a senior treasury professional who will play a strategic role in building our money market offering,” says Oulton. “Judith joins Insight at a time when there is unprecedented growth in the UK money market fund business, now managing in excess of US$200bn. This growth is being fuelled by increasing disintermediation in UK banking. Many treasurers and CFOs are increasingly choosing to place substantial portions of their cash in money market funds, attracted by enhanced yields, risk diversification, capital security and simplified administration. This poses a remarkable opening for Insight, and Judith’s unique capabilities will help us make the most of this opportunity.”