Spectrum Asset Management has strengthened it institutional sales efforts with the appointment of Steven Solmonson who joined the firm in mid-January.

Mark Lieb, founder and CEO of Spectrum Asset Management, says: “Steven and I have known each other for more than 30 years, having worked together at Drexel Burnham Lambert where we launched DBL Preferred Advisory Management in 1982. Steven’s experience in the capital markets and, in particular, working with pensions, endowments and professional family offices globally, will make him a tremendous addition to Spectrum’s team.”

Solmonson joins Spectrum following his long-standing tenure as President of Park Place Capital Ltd, having merged the Park Place team into Rab Capital last year. After commuting between New York and London for the past 12 years, Solmonson is enthusiastic about focusing on US institutional investors and growing the breadth of Spectrum’s clients who use preferred securities to enhance their fixed income returns. “While I considered taking a short break, the opportunity to work with a global leader and one of the pioneers in managing preferred securities is exceptional,” Solmonson said.