Vivek Bommi will join Macquarie Asset Management in Philadelphia as head of leveraged credit.
The position, overseeing Macquarie's leveraged credit capabilities globally, including portfolio, team and business management, is a new one, a spokesperson for Macquarie said.
Macquarie, in a news release, said leveraged credit is one of three capabilities on offer by the firm's credit platform, alongside fixed income and private credit.
The news release said Macquarie Asset Management oversees roughly $5 billion in leveraged credit assets across high yield and bank loans from wealth and institutional clients. The broader credit platform has $220 billion in assets.
Bommi has also been named a portfolio manager for the credit team's high yield and bank loan funds in the U.S.
He comes to Macquarie from London, where he served as AllianceBernstein's head of European fixed income.
An AllianceBernstein spokeswoman said the firm is in the process of identifying a permanent replacement for Bommi.
