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MONEY MANAGEMENT

Aberdeen Asset Management adds global head of loans

Paul Mehta was named global head of loans at Aberdeen Asset Management, a spokesman said.

The position is new. Mr. Mehta will start in July and will focus on strengthening Aberdeen's loans business.

“(Mr. Mehta's) appointment is part of our strategy to strengthen further our loans capability, where we have been investing for a number of years,” said Steve Logan, global head of high yield, in a statement provided by the spokesman. “This also reflects the increasing appetite from clients to invest in loans. To this end, we are working to provide more tailored solutions that suit our clients' requirements, which means including an (emerging markets) element.”

Mr. Mehta was responsible for senior loans and distressed debt trading at BNP Paribas. A spokesman for BNP Paribas was not available to comment about a replacement by press time.