Markit, a financial information services company, today announced the appointment of Richard Paddle as Managing Director and Head of Markits European structured finance business based in London.
Paddle will be responsible for developing Markits product offering for the European structured finance market. The companys existing structured finance product set includes European asset-backed securities (ABS) pricing and performance data; a CDS of ABS spread service; and a CDS of ABS trade settlement calculation service. Markit is also the owner of the widely traded synthetic structured finance indices, the Markit ABX.HE and the Markit CMBX which reference U.S. home equity ABS and U.S. commercial mortgage-backed ABS respectively.
Richard will be responsible for spearheading Markit’s structured finance initiatives in London, says Kevin Gould, president of Markit North America and head of structured finance at Markit. As ever, we will be striving to enhance efficiency and transparency in the asset class and we are delighted to have him on board.
Paddle has over 15 years of experience within the structured finance and fixed income markets, including asset-backed, residential mortgage-backed and commercial mortgage-backed securities. He joins Markit from Bank of Scotland Treasury where he was Head of Investment Portfolio and responsible for the banks credit liquidity portfolio and its structured investment portfolio.
Previously, Paddle was a Board Member of the American Securitization Forum and a Vice Chair of the European Securitisation Forums investor committee. Prior to Bank of Scotland he was a Senior Credit Analyst at Abbey National Treasury Services where he was responsible for the ongoing performance of existing assets and the quality of prospective assets.
Richard holds a postgraduate diploma in Management Studies from Nottingham Trent University and a BSc (Hons) in Physics from Bath University.
D.C.