Union Bancaire Privée has announced a double hire in its fixed income emerging markets team. Sergio Paz, the former head of emerging market debt at Blackrock, now leads the group of nine investment professionals, who are spread between London, Zurich, and Hong Kong.
In addition, he has become CIO of the Swiss asset manager.
Paz, who is now based in London, has dedicated a large portion of his career to working in EM fixed income; having led the EM fixed income team at BNP Paribas before joining Blackrock in 2012.
He is joined by portfolio manager Soledad Rocio Acoroni (pictured), who will be based in Zurich. A former portfolio manager and head of credit research at Chilean firm Larrain Vial AM, Acoroni has experience in Latin American corporate debt and low carbon ESG strategies, as well as Argentinian sovereign and corporate debt strategies.
Philippe Lespinard, head of asset management (London) and head of alternative fixed income at UBP, said: “With these two new hires, UBP marks its ambition to continue innovating in this asset class which is fundamental. We are convinced that emerging markets, and in particular EM fixed income, represent an important source of performance, especially as the rate-hiking cycle in EM began well ahead of OECD countries.
“Our capacities in ESG research are crucial on this segment and we are determined to continue innovating with new products thanks to seasoned talents with proven expertise.”