(13 January 2011 – Australia) Westpac Banking Corporation has hired Ignacio Cortes as the bank’s London-based director of debt capital markets.Mr Cortes, who will be responsible for origination and syndication in European hours, officially joins Westpac on March 1st.
Westpac overtook National Australia Bank to top the Australian bond league tables for 2010, as a result of its work on bond sales in Australia for the European Investment Bank and Barclays Plc.
Mr Cortes has previously worked for WestLB AG and Royal Bank of Scotland Group Plc, according to the statement released by Westpac.
Mark Goddard, Sydney-based executive director and head of syndicate at Westpac, said in an interview that there had been an internationalisation of Australian dollar debt product.
“It has become a core currency for many offshore investors and borrowers,” Mr Goddard said.
Hiring Mr Cortes will help Westpac “co-ordinate more effectively across our global platform, giving better coverage to European issuers,” Mr Goddard added.