Pemberton enhances focus on credit risk with hire – exclusive

Nicole Gates joins the L&G-backed firm from GE Capital, where she served as head of restructuring, to develop the risk management team.

Pemberton Capital Advisors has appointed Nicole Gates as deputy chief credit officer from GE Capital International.

The move is part of Pemberton’s aim to bolster its credit underwriting and risk management capacities. Gates will report to Conrad Teppema, the firm’s chief credit officer.

At GE, Gates served as head of restructuring, a position she held since 2013 according to her LinkedIn profile. Prior to that she served as a managing director at the firm for 10 years. 

Before her time at GE, she was a managing director at the institutional restructuring unit at Dresdner Kleinwort – a position she held for almost two decades.

Symon Drake-Brockman, managing partner at Pemberton, said: “The appointment reflects the emphasis the firm places on risk management. She brings extensive experience in the credit industry and a first class ability to understand and qualify the risks involved.”

Gates said: “I was attracted by the opportunity to utilise my many years working in credit risk and apply this within a growing asset management business of Pemberton’s standing.”

The hire is the latest development at the Legal & General-backed asset management firm. Last week, it confirmed the appointment of Ben Gulliver as a portfolio manager from ANZ Bank.

And last month, the firm launched a direct lending fund targeting investments in the UK mid-market. Targeting a final close of £500 million ($612 million; €561 million), the firm is aiming to take advantage of the opportunities made available as foreign bank lending continue to reduce their activities in the UK market.