Terry McCabe was named managing director at London-based NCRAM Europe, a new subsidiary of Nomura Corporate Research and Asset Management that opened Oct. 22, confirmed spokesman Ralph Piscitelli. The new subsidiary will focus on high-yield bonds and leveraged loans and will leverage NCRAMs existing business.
Mr. McCabe was managing director of the CDO asset management group at ACA Capital Management (U.K.). His investment team at ACA, Brian Percival, Ian Feinson and Paul Robbins, also joined NCRAM Europe; Mr. Piscitelli said the company would not disclose their new positions.
ACA spokesman Fred Bratman was not immediately available for information.