Pemberton has added two new faces to its trade receivables finance investment team with the appointment of Jean Tournaire (pictured) as portfolio manager and Mark Darell-Brown as consultant.
The asset manager, which is backed by Legal & General, expanded into trade receivables and supply chain finance at the beginning of last year when it brought Phil Ashdown, partner and senior portfolio manager, on board.
Tournaire and Darell-Brown will work with Ashdown to further expand Pemberton’s trade receivables and supply chain finance strategy, which the firm says has already attracted a cornerstone capital commitment from Legal & General and seen it form a strategic alliance with servicer Global Supply Chain Finance.
Tournaire joins Pemberton from Santander CIB UK, where he was head of structured trade and working capital solutions. Prior to this, he was global head of receivable finance at Santander Group. His 20 years of industry experience also includes time as head of commodity finance at Natixis Brazil. At Pemberton, his primary responsibility will be deal origination and portfolio management.
“There is a huge, untapped opportunity to transform trade receivables and supply chain finance into a liquid asset class, and this is increasingly being recognised by institutional investors,” says Tournaire. “The platform Pemberton has built and the investor base it has cultivated give it an unrivalled ability to grow this asset class into a much larger investment proposition and I look forward to playing a key role in that development.”
Meanwhile, Darell-Brown, who has over 25 years in the asset management industry as a CIO, business founder and portfolio manager, will be tasked with business development and investor relations.
Speaking about the two new hires, Symon Drake-Brockman, managing partner, says: “We believe there is a significant opportunity in improving investors’ access to this complex market, where institutional investors traditionally have come up against the dominance of the banking community, and in catering to the massive demand from corporates for alternative cash flow financing solutions. These appointments represent a clear signal of our intention to invest in and grow this asset class.”