Adam Phillips was appointed head of developed markets special situations at BlueBay Asset Management, a spokesman confirmed.
The position is new. Based in London, Mr. Phillips reports to CIO Mark Dowding and is responsible for building the stressed and distressed credit capabilities, leading the launches of special situations investment strategies set to be established in the coming months. These new strategies will complement the firm's event-driven credit strategy, which Mr. Phillips will also manage alongside portfolio managers Duncan Farley and Tim Leary.
BlueBay believes that, due to the effects of the COVID-19 pandemic, corporate restructurings will remain high — increasing the opportunity to invest in stressed and distressed credit.
"His impressive investment skills, substantial leadership experience and track record of strong investment returns and asset raising make him a great addition to our already solid team," Mr. Dowding said in a news release.
Mr. Phillips was head of investments at Blantyre Capital. A spokesman declined to comment.
BlueBay had over $67 billion in assets under management as of Aug. 28.