John Parker, formerly a director in Global Financial Institutions at HSBC, joins Prime Rate Capital Management LLP as sales director.
In his role, Parker will support the book building for the first UK domiciled Qualifying Money Market Fund which Prime Rate plans to launch within the next two months. Investors in the fund are expected to be banks and building societies, custodians, prime brokers, pension funds, financial intermediaries and corporates.
“John has great experience in the institutional and capital markets arena and we are delighted to have him on the team. His role will be vital during the next few months when we speak to investors about the benefits of UK domiciled Qualifying Money Market Funds. In 2007 new regulations by the FSA and MiFID paved the way to make this financial instrument available to allow institutions to diversify their cash management,” says Chris Oulton, CEO, Prime Rate.
Parker joined Prime Rate from HSBC Bank plc where he was a director in Global Financial Institutions. He has over 30 years of experience in banking, asset management, treasury and capital markets, and previously held senior positions at HFC Bank, AIM Global, Hill Samuel and Chemical Bank, having begun his career at Phillips & Drew and the Bank of England.