Countering the trend of US companies expanding in the UK, London-based NewSmith Capital Partners LLP is opening a new office in the US.
Countering the trend of US companies expanding in the UK, London-based NewSmith Capital Partners LLP is opening a new office in the US.

NewSmith Capital Partners (US) will open for business on 15 September, and will represent all the activities of NewSmith Capital Partners LLP in the United States.

NewSmith Capital Partners has appointed Jefferson E Hughes Jr and Suzanne M Crosby as Partners in the Firm, working from its new US offices at 717 Fifth Avenue, Manhattan.

Jeff Hughes, who will head the new office, has a Wall Street career spanning more than 30 years at Merrill Lynch, which he joined in 1972. Most recently Jeff was Chairman of Merrill's Global Markets and Investment Banking business in Latin America and Canada, and Head of Global Relationship Management, coordinating coverage of the Firm's key institutional investors and private clients.

Sue Crosby, who is responsible for marketing NewSmith products and services in North America, was formerly head of the Endowment & Foundation Practice for Merrill Lynch Global Markets and Investment Banking. Before Merrill, she held senior marketing roles at Morgan Stanley Capital International, United Asset Management and Standard & Poor's.

Jeff and Sue's activities will include working with existing US clients, identifying new distribution channels and investors, sourcing investment strategies and portfolio management teams for NewSmith's asset management business and marketing the expertise of NewSmith Financial Solutions, the Firm's institutional and corporate advisory business specializing in CDO workouts and event-driven structured finance.

NewSmith's Paul Roy said: 'We are all delighted that Jeff and Sue have joined us to strengthen our presence in the United States. The office in New York will bring us closer to our North American clients, and help us to forge new relationships in the world's biggest financial market.'

The New York office is the fifth global location for the Firm, following London and Singapore in 2003, Hong Kong in 2005 and Tokyo in January 2006.

NewSmith Capital Partners LLP is an independent investment management and advisory partnership. Wholly owned and financed by its equity partners, the partnership provides asset management services via NewSmith Asset Management LLP and structured capital markets advice through NewSmith Financial Solutions Ltd. NewSmith Asset Management manages investments in alternative asset classes, credit markets and selected long only equity funds. It focuses on the needs of institutions, including leading corporations, governments, pension plans, insurance companies, endowments and foundations, as well as high net worth individuals. NewSmith Capital Partners is also active as a principal investor, including private equity.

NewSmith Financial Solutions Ltd is an independent, debt-focused adviser to institutional and corporate clients, specialising in structured, non-vanilla finance. The Firm is predominantly active in CDO workouts and event-driven structured finance.