Philip Gilbert has joined Beaufort Securities in London as head of fixed income and structured products, with his brief including the creation of listed structured products for Beaufort’s clients and later the UK independent financial adviser market. Gilbert reports to Tanvier Malik, chief executive of the retail client stockbroker and wealth manager.
“As well as trade finance, asset-backed securities and also climate bonds, the structured products side started after a few days here,” said Gilbert. “There are 80,000 to 90,000 retail clients here, and a separate business called Beaufort Asset Clearing Services, which is a small version of a global custodian. They have all the facilities, such as Crest, Euroclear for the accounts. We talked to plan managers, but realised we already have their capacities in-house and can just buy the note. We are investigating sourcing the notes through companies that can also provide the risk analysis.”
Gilbert joined Beaufort in February from Mint Partners, where he was responsible for developing retail bond issues and credit-linked notes listed on the London Stock Exchange. He joined Mint from Criffel Associates, where he was also involved in the creation and distribution of LSE-listed fixed income securities, as well as developing a listed products platform for equities.
Before that, Gilbert was an associate director at HSBC global markets in London, where he was responsible for the external distribution of structured products to UK retail investors. He joined HSBC in April 2008 and spent time at the UK bank seeking to create a process for the distribution of structured products and exchange-traded funds through fund platforms in the UK and Europe. Gilbert reported to Chris Taylor, now managing director at Investment Bridge, while at HSBC.