Rothesay Asset Management North America makes CIO promotion
Rothesay Asset Management North America (Rothesay Asset Management NA) has promoted Robert Allard to the newly created role of Chief Investment Officer for the Americas, where he will lead the firm’s US investment strategy in addition to his current role as Head of Rothesay’s asset management business in the US.
The firm has also hired Daniel Parisi as mortgage analyst to continue building out its residential real estate expertise in the US.
While retaining his current role, Allard will lead all initiatives across Rothesay Asset Management NA, in areas such as credit, structured finance, US public finance, residential and commercial real estate, and private placements, as well as continuing to drive the rapid growth the firm has experienced since he joined as Head of Rothesay Asset Management NA at its inception in early 2018. In the US, the firm is continuing to grow its team of structured finance experts, who have deep domain expertise across focus sectors with Parisi’s appointment to the firm’s US residential real estate group, which comprises US ERM, US Mortgages and Single Family Residential.
As evidence of Rothesay’s ability in the US to provide creative lending solutions to counterparties and borrowers, in June 2019 the firm executed a groundbreaking transaction in the form of a 12-year secured term loan to Invitation Homes, a leading owner and operator of single-family homes for lease in the United States. Rothesay was able to deliver a customised and flexible term structure and longer duration, with increased substitution and releveraging to dovetail with Invitation Homes’ business strategy.
“Rothesay Asset Management NA has strived to source solutions for borrowers and counterparties with sophisticated and tailored financings, and it is exciting to be leading a team that adopts a contrarian and creative mindset to private markets,” says Allard. “As we continue to build out a team of experienced structured finance experts, hires such as Daniel will allow us to expertly navigate the various markets we operate in and ensure Rothesay deploys capital more effectively. I am excited that he has joined the team and confident he will be an integral part of our residential real estate team as we grow this strategically important business.”
“Rothesay Asset Management NA is at a very interesting stage of development and expanding its business – the firmwide team has doubled in size every year, enabling it to triple the capital it helped Rothesay deploy every two years,” says Parisi. “I am looking forward to working with senior leadership to enhance the residential real estate business and continue to deliver the historical growth the firm has been able to achieve.”
Before his appointment as Chief Investment Officer, Allard held the role of Head of Rothesay Asset Management NA. Allard has over 22 years of experience as a senior structured finance leader on the sell-side and buy side, previously as the Managing Director and Head of Structured Product Distribution at both Goldman Sachs and Deutsche Bank before co-founding Firebreak Capital, a private structured credit hedge fund. Parisi joins Rothesay with over 10 years of experience in analysing and trading mortgage loans and residential mortgage backed securities, most recently at MetLife Investments, where he was on the private fixed income and alternatives team focused on residential mortgages. Prior to MetLife, Parisi held roles at Lone Star/Hudson Advisors and PricewaterhouseCoopers.