Former State Street exec Schumaker moves to Vesttoo
28 May 2021 Israel
Image: stock.adobe.com/karl good/EyeEm
Robert Schumaker has joined Israeli risk management firm Vesttoo.
The former State Street and Credit Suisse executive will lead the company鈥檚 efforts to provide investors with long-term, sustainable alpha generated by a security-based collateral programme.
As vice president of capital markets, Schumaker will look to build Vesttoo鈥檚 $1 billion Insurance-Linked Program (ILP) which provides asset managers and pension schemes the opportunity to earn alpha by pledging securities to support short and mid-term insurance alternative risk transfer transactions.
According to Vesttoo, 鈥渋nvestors will benefit from BB spread with AA uncorrelated risk by using existing securities inventory, corporate bonds, government bonds, with a significant global deal pipeline targeting a total AUM of $1B USD within 12 months鈥�.
Vesttoo CEO Yaniv Bertele says: 鈥淲e are very excited to have Mr. Schumaker on board, and are looking forward to scaling Vesttoo's Insurance-Linked Program with the help of his expertise. The ILP program is an integral part of the company's effort to bridge the funding gap in the reinsurance market, providing sorely needed alternative capital to the reinsurance industry, as well as exceptional return on risk for investors.鈥�
The former State Street and Credit Suisse executive will lead the company鈥檚 efforts to provide investors with long-term, sustainable alpha generated by a security-based collateral programme.
As vice president of capital markets, Schumaker will look to build Vesttoo鈥檚 $1 billion Insurance-Linked Program (ILP) which provides asset managers and pension schemes the opportunity to earn alpha by pledging securities to support short and mid-term insurance alternative risk transfer transactions.
According to Vesttoo, 鈥渋nvestors will benefit from BB spread with AA uncorrelated risk by using existing securities inventory, corporate bonds, government bonds, with a significant global deal pipeline targeting a total AUM of $1B USD within 12 months鈥�.
Vesttoo CEO Yaniv Bertele says: 鈥淲e are very excited to have Mr. Schumaker on board, and are looking forward to scaling Vesttoo's Insurance-Linked Program with the help of his expertise. The ILP program is an integral part of the company's effort to bridge the funding gap in the reinsurance market, providing sorely needed alternative capital to the reinsurance industry, as well as exceptional return on risk for investors.鈥�
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