EMG Man Group Plc

By Laurence Fletcher 

Hedge-fund firm Man Group PLC has hired HSBC Global Asset Management's head of emerging-market debt, said a person familiar with the matter.

The firm has recruited Guillermo Osses, an Argentine based in New York who has been running around $22 billion in assets at HSBC, as head of emerging-market debt strategies, the person said.

A spokeswoman for Man Group declined to comment. A spokesman for HSBC confirmed that Mr. Osses had left the firm and that his position had been filled internally. Mr. Osses didn't respond to a request for comment sent via website LinkedIn.

Man has been looking for opportunities to expand its relatively small presence trading credit, an asset that has suffered over the past 18 months as the falling oil price raised fears of defaults and concerns have grown over the pace of global growth. Spreads over government bonds have widened sharply in recent months, with many credits sold off as investors have pulled money out of U.S. investment funds.

Last year Man Chief Executive Manny Roman pointed to the wealth of attractive trades available betting on both rising and falling corporate bond prices, saying that credit offers "an enormous amount of opportunities around the globe."

And early last year the firm hired Himanshu Gulati, a former fund manager at Perry Capital, as head of U.S. distressed credit, also based in New York.

Mr. Osses, who will continue to be based in New York as Man builds out its presence in the lucrative U.S. market, was previously an emerging-markets fund manager at Pimco, and worked at Barclays and Deutsche Bank trading emerging-markets bonds.

Man runs $76.8 billion in assets.

Write to Laurence Fletcher at laurence.fletcher@wsj.com

(END) Dow Jones Newswires

January 24, 2016 16:27 ET (21:27 GMT)

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