Michael Miller has joined Investec Bank as head of the firm’s newly established private credit management team, according to a news release.
This position is new, and Miller is expected to start immediately. The team will be part of Investec's direct lending unit and will be based in London.
The private credit management team will manage a portfolio of more than 120 existing clients. Under Millers leadership, the team will be responsible for managing the credit and risk oversight of Investec’s direct lending business as well as creating new revenue opportunities.
Miller is expected to work closely with Callum Bell, Investec’s head of direct lending.
“The investment into a dedicated private credit management team represents another significant development in the evolution of Investec’s European direct lending platform," Bell said in the news release. "Private credit markets have seen unprecedented growth over recent years, and we see continued opportunities in the European lower midmarket.”
Miller was head of financial sponsor coverage and leveraged finance coverage, London at HSBC, and had been with the bank across a number of roles since 2003. HSBC couldn't immediately be reached for information about a replacement for his position.
Investec has about £61 billion ($76 billion) in assets under management.
