Schroders Australia hires head of private debt

The new role will look to take advantage of disintermediation of Australian debt provision.

Schroders Australia has appointed Nicole Kidd as its head of private debt in the country.

Kidd will join Schroders on 1 September from RBC where she was managing director and head of corporate banking Australia and institutional client management for Asia-Pacific.

Schroders Australia said growing its private debt offering is a key strategic priority as the Australian market moves away from bank debt.

Its CEO, Chris Durack, said: “The bank debt market in Australia is becoming increasing disintermediated, providing opportunity for institutional investors to gain access to favourable risk-adjusted returns. This is a result of both increasing bank regulation (where traditional bank returns are more difficult to achieve with higher capital imposts), and desire for banks to hold lower concentrations of single-asset exposures on their balance sheets than they previously were, meaning the door is open for so-called ‘non-traditional’ lenders.”

Kidd has 25 years of experience in investment banking and asset management and will sit within the broader fixed income and multi-asset team, reporting to its head Simon Doyle. She will be responsible for developing the firm’s private debt function in Australia, expanding capabilities it already has in Europe. She will also have a reporting line to Georg Wunderlin, the firm’s London-based head of private assets.