ICG hires management head

Intermediate Capital Group, the UK debt investor and fund manager, has recruited for its CDO and institutional mandate team. It is looking to widen its trading expertise with a recruit to its leveraged loans team.

UK direct investor and fund manager Intermediate Capital Group has hired Dagmar Kent Kershaw to head its CDO and institutional mandate team. Kent Kershaw will take over part of Sara Halbard’s role when she retires in June 2008.

Kent Kershaw was the founder and head of structured products at UK insurance company Prudential for the last seven years. She was previously responsible for Prudential's debt private placement business and also worked at UK banks Scotiabank and the UK’s NatWest Bank.

ICG through its fund management subsidiary is one of the largest investors in the European high yield credit market. The firm's spokeswoman said Kershaw had business development skills but the firm was looking to hire for someone with trading expertise on the leveraged loans side of its business.

Halbard had previously filled both these roles but given the change in the credit markets the firm was looking to split her role, the spokeswoman said. The market needed more trading expertise after the problems in the credit markets began, she said.