MeDirect makes ma­jor in­vest­ment in credit mar­ket ca­pa­bil­i­ties

The Malta Business Weekly - - FRONT PAGE -

MDB Group (MeDirect), a pan-Eu­ro­pean ECB reg­u­lated en­tity with banks in Malta and Bel­gium, has an­nounced an im­por­tant strate­gic hire to its se­nior man­age­ment team, strength­en­ing its grow­ing cor­po­rate lend­ing busi­ness and to spear­head the bank’s di­ver­si­fi­ca­tion into new and ad­ja­cent prod­uct ar­eas.

Michael Cur­tis will join as chief In­vest­ment of­fi­cer of the Group, re­port­ing to Mark Wat­son, CEO, and will be re­spon­si­ble for lead­ing the core credit activities of the bank, while devel­op­ing new and ad­ja­cent busi­ness lines to en­hance the strate­gic de­vel­op­ment of the Group. Michael joins MeDirect’s team in Lon­don.

Com­ment­ing on the ap­point­ment, Wat­son said: “Hir­ing Michael un­der­lines our be­lief in the long-term po­ten­tial of our cor­po­rate lend­ing busi­ness and in broad­en­ing our in­vest­ment ca­pa­bil­ity. We are delighted to have at­tracted this ex­cep­tional hire to join MeDirect’s se­nior man­age­ment team in the new role of CIO. Michael has ex­cel­lent cre­den­tials and a very strong track record he will con­trib­ute greatly to strength­en­ing and grow­ing MeDirect’s foot­print.”

Mike Bussey, chair­man, MDB group fur­ther com­mented: “MeDirect has an ex­cel­lent track record in its core lend­ing ac­tiv­ity and we see sig­nif­i­cant op­por­tu­ni­ties to ad­vance growth in this area. Hav­ing Michael on board will en­able us to ex­pand into fur­ther prod­ucts and ter­ri­to­ries as we look to build and di­ver­sify into new ar­eas.”

Prior to join­ing MeDirect, Michael was Port­fo­lio man­ager and man­ag­ing direc­tor within the Credit Fund Man­age­ment Group at ICG, re­spon­si­ble for lead­ing the loans busi­ness. Michael led ICG’s CLO plat­form as well as a num­ber of loan and high yield bond man­dates. Dur­ing this time, ICG was a top five Eu­ro­pean CLO is­suer and achieved ex­cel­lent loan fund re­turns. Michael sat on the Eu­ro­pean In­vest­ment Com­mit­tee and the Global Strate­gic As­set Al­lo­ca­tion com­mit­tee

Prior to join­ing ICG, Michael was Port­fo­lio man­ager and direc­tor of 3i Debt Man­age­ment, re­spon­si­ble for in­vest­ing across the cap­i­tal struc­ture, pri­mar­ily in Eu­ro­pean lever­aged loans, high yield bonds and struc­tured credit. Dur­ing Michael’s lead­er­ship at 3i, fund re­turns sig­nif­i­cantly im­proved from bot­tom quar­tile to top quar­tile eq­uity re­turns and across a num­ber of per­for­mance met­rics

Prior to 3i, Michael was at Alp­star Cap­i­tal, a spe­cial­ist Eu­ro­pean credit fund busi­ness he helped to build from a €25m start-up to a multi-bil­lion as­set man­ager. Michael was a part­ner of the firm, mem­ber of the in­vest­ment com­mit­tee and head of Alp­star’s loan busi­ness, where he was re­spon­si­ble for port­fo­lio man­age­ment, credit re­search, mon­i­tor­ing and trad­ing

Michael started his ca­reer in lever­aged fi­nance and re­struc­tur­ing at CIBC World Mar­kets and holds a BSc in Eco­nom­ics from the Univer­sity Col­lege Lon­don.

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