April 29, 2021
Cadwalader Capital Markets partner Claire Puddicombe earlier this week participated on a panel at the Opal Group’s “Celebrating Women in Structured Finance and Fintech 2021” event, where financial markets professionals gathered online to discuss topics including issuance and broader market trends, regulatory developments, future business opportunities, inclusion and diversity, and cultivating the next generation of women business leaders.
Puddicombe, who is based in London, participated on the “Women in CLOs Roundtable – European Focus” panel, and was joined by Francoise Devenoges, a portfolio manager at GLG Partners; Asha Narayan, a CLO portfolio manager at PGIM; and moderated by Michelle Manuel, a co-portfolio manager at Investec Bank Limited.
Reflecting on the pandemic-driven disruption of last year, the panel discussed the management of CLOs through a turbulent market, noting that it does not necessarily require a fundamental change in investment strategy, but more the ability to move quickly and efficiently.
The conversation further addressed how recent structural changes allow CLOs to benefit from restructuring opportunities in order to mitigate losses in respect of defaulted and/or impaired obligations.
In the increasingly prioritized realm of ESG, the panelists observed that a number of managers are investing in ESG research, including developing proprietary ESG criteria.
Commenting on the importance and value of diversity and inclusion from her own experience, Puddicombe said: “Embracing diversity in our teams maximises potential and provides the broad range of perspectives that is invaluable when providing solution-based advice for clients.”
Puddicombe focuses her practice on securitisation, with particular focus on CLOs. She represents banks, arrangers, collateral managers and warehouse finance providers in connection with a variety of European CLO transactions and loan warehouse facilities.