ConvergEx, a provider of investment technology solutions and agency brokerage services, today announces its collaboration with Standish Asset Management Company LLC’s Global Workout Solutions group, to provide clients access to a fiduciary advisory business designed to manage exposures related to distressed, illiquid and hard-to-value assets.
Through the agreement, ConvergEx will be able to offer its plan sponsor and pension fund clients access to Standish’s Global Workout Solutions’ expertise in assessing the risk and value of mortgage and asset-backed securities, collateralized debt obligations (CDOs), structured investment vehicles (SIVs) and other structured and corporate finance investments.
“Given the ongoing market dislocation in certain asset classes, our clients appreciate the extensive knowledge and highly customized services that Standish’s Global Workout Solutions group is able to provide,” says Kal Bassily, CFA and managing director at ConvergEx. “By working together with Standish, we are offering our clients a solution to some of the very real challenges they still face with specific fixed income products.”
“We are very pleased to have the opportunity to work alongside ConvergEx,” says Desmond Mac Intyre, president and chief executive officer of Standish. “Plan sponsors remain concerned about the risks involved with certain impaired assets. Our investment professionals are well-equipped to formulate a strategy and provide solutions, within a client’s specific framework.”
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