ConvergEx, a New York-based provider of investment technology solutions and global agency brokerage services, has collaborated with Standish Asset Management, to provide its clients an access to a fiduciary advisory business designed to manage exposures related to distressed, illiquid and hard-to-value assets.
Reportedly, through the agreement, ConvergEx will be able to offer its plan sponsor and pension fund clients access to Standish’s Global Workout Solutions’ team in assessing the risk and value of mortgage and asset-backed securities, collateralized debt obligations (CDOs), structured investment vehicles (SIVs) and other structured and corporate finance investments.
Kal Bassily, CFA and managing director at ConvergEx, said: “By working together with Standish, we are offering our clients a solution to some of the very real challenges they still face with specific fixed income products.”
Desmond Mac Intyre, president and CEO of Standish, said: “Plan sponsors remain concerned about the risks involved with certain impaired assets. Our investment professionals are well-equipped to formulate a strategy and provide solutions, within a client’s specific framework.”
