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Ex-L&G manager Canoy named global credit trading head at Natixis

Ex-L&G manager Canoy named global credit trading head at Natixis

Ex-L&G manager Michel Canoy has been hired by Natixis as global head of credit trading for its investment banking arm as part of its UK push.

Canoy ran £2 billion of assets at L&G as lead manager of the £1.3 billion Fixed Interest Trust, the £390 million Managed Monthly Income fund and the £660 million Sterling Income fund. He left L&G at the end of January, leaving Richard Hodges as interim manager.

Natixis was created in 2006 from a merger of two other banks, and is majority owned by BPCE, one of the biggest banking groups in France.

‘The intention is to place Natixis at the top of the regional players,’ Canoy told Wealth Manager.

‘We will expand into the UK and hire more people. We are looking for a very specific profile, and will rebalance from Paris to London.’

Canoy will divide his time between Paris and London, heading a team of 25- 30 that work across the credit risk spectrum, including high yield, investment grade and financials.

He joined L&G in 2009. Prior to that, he worked at JP Morgan in London and also had a spell as manager of credit proprietary training at CDC Ixis in Paris.

‘I really appreciate the five years I spent at L&G. I was looking for a new challenge but I have no regrets. I learnt a lot on the buy side and have a better understanding of consumer behaviour because I have done that job,’ Canoy said.

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