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September 08, 2017  

Guggenheim Beefs Up Underwriting Unit

Guggenheim has added three senior executives to its asset-backed bond underwriting team.

Anuj Bhartiya and Richard Onkey arrived this week as managing directors. Bhartiya is playing a key role on the New York firm’s origination desk, with a focus on deals backed by non-mainstream assets including whole-business cashflows. He reports to U.S. asset-backed bond underwriting chief Cory Wishengrad. Onkey is working on the syndicate desk.

Also newly on board is Charles Atkins, who has assumed the role of senior advisor on the origination desk. His mandate: winning assignments from energy companies.

The additions signal an intention on Guggenheim’s part to continue expanding its footprint in the securitization field, where Wishengrad has established the firm as a go-to bookrunner for whole-business transactions. So far this year, Guggenheim has run the books on $4.5 billion of asset-backed bond offerings, compared to $2.4 billion during the same period last year, according to Asset-Backed Alert’s ABS Database.

Bhartiya spent the past year as a capital-markets advisor to buy-side shop Corridor Funds. That was preceded by an eight-year run as a managing director on the structured-product origination desk at Barclays. Bhartiya joined Barclays via its financial-crisis takeover of Lehman Brothers, where he was head of asset-backed bond structuring and analytics. One of the transactions he worked on at Lehman was a $2.1 billion whole-business securitization to finance IHOP’s 2007 acquisition of Applebee’s International.

Bhartiya worked with Wishengrad both at Barclays and Lehman.

Onkey previously held the title of director in the New York financial-institutions group of Lloyds Banking. He joined Lloyds in 2014 following a stint as a relationship manager at PNC, where he helped arrange financing for auto-lending and equipment-leasing clients via the bank’s commercial-paper conduit. Onkey perhaps is best known for stints running the asset-backed bond syndicate desks at Morgan Stanley, from 2001 to 2006, and UBS, from 2006 to 2009.

Atkins, who has been running his own advisory firm for the last four years, spent 23 years at Morgan Stanley, where he played a key role in structuring utility-fee securitizations.