BMO adds to lending team with Jhangiani 01 July 2013Chicago Reporter: Georgina Lavers
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BMO Global Asset Management has expanded its securities lending group with the addition of LJ Jhangiani as a director and senior securities lender/trader.
Jhangiani was previously a portfolio manager on the short term/government desk at Allstate Investments LLC. He had been in that role since 2005.
Based in Chicago, Jhangiani will be responsible for the control and coordination of the securities lending trading desk and trading/lending within client portfolios.
"Our institutional clients are looking for expertise and personalised strategies, and that is exactly what LJ brings to our team," said Peter Arts, managing director and head of taxable short fixed income at BMO Global Asset Management.
BMO's securities lending programme involves taking full advantage of the lendable assets in client portfolios. This includes the use of intrinsic value and general collateral lending.
The majority of BMO's securities lending clients have lendable assets in excess of $100 million. As of 31 May 2013, the programme had a lendable asset base of $13.3 billion, with more than $4.3 billion in securities on loan and an average utilisation rate of 32 percent.
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