Cairn Financial Products, the specialist credit asset manager, has been appointed to provide advisory services to BayernLB in respect of the management and unwinding of its multi-billion e

Cairn Financial Products, the specialist credit asset manager, has been appointed to provide advisory services to BayernLB in respect of the management and unwinding of its multi-billion euro European asset-backed securities portfolio.  
 
The award of the mandate follows a competitive tendering process and follows the decision by BayernLB to re-focus its attentions on its core-activities and the creation of its new restructuring division.
 
Cairn's specific remit is to provide BayernLB with a broad range of portfolio advisory services including technical, professional and interpretative advice, support and assistance such as monitoring, analysis, calculation, valuation and reporting.
 
David Littlewood, director at Cairn, says: 'This is a tremendously interesting and exciting opportunity for Cairn and one which will clearly demonstrate the full range of our skills and services. We are delighted to have been selected as BayernLB's partner on such a prestigious and key mandate for the bank.'