Christopher Street Capital hires SIV-lite architect Edward Cahill to run structured credit

Christopher Street Capital, the London-based fixed-income agency broker, has hired Edward Cahill, former European head of CDOs at Barclays Capital, to run its structured credit brokerage business.

Cahill achieved notoriety in mid-2007 with the collapse of a series of SIV-lite structured credit vehicles originated by BarCap. The deals were among the first victims of the credit crunch and a forerunner of the entire collapse of the SIV market.

The hire is part of Christopher Street’s strategy to focus on the more opaque parts of the credit markets after bid-offer spreads across the fixed income narrowed during 2009 as market conditions improved.