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MarketScreener Homepage  >  Equities  >  Athens Stock Exchange  >  Alpha Bank SA    ALPHA   GRS015003007

ALPHA BANK SA (ALPHA)
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Alpha Bank : Hedge fund Oceanwood promotes Garcia-Woods to number two - source

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10/12/2018 | 10:35am CET

LONDON (Reuters) - Oceanwood Capital Management has promoted Julian Garcia-Woods to the role of chief portfolio advisor in a reshuffle of the $2 billion (£1.5 billion) hedge fund's leadership, a source with direct knowledge of the matter told Reuters.

Set up by Chief Investment Officer Christopher Gate in 2006, Oceanwood's flagship fund focuses on event-driven investing across the capital structure in European companies, with a second fund focused on financials.

Following the decision to appoint Garcia-Woods as number two to Gate, Deputy Chief Investment Officer Luke Lynch decided to leave to set up his own firm, the source said. Lynch could immediately not be reached for comment.

Garcia-Woods was promoted after leading on several of Oceanwood's best performing investment positions over the last 8 years in both equity and credit, the source said.

As part of the reorganisation, David Vaamonde has been promoted to partner, due to his "consistently excellent" performance in financials, while Antoine Chabanne had been hired as a portfolio advisor.

The hedge fund's most prominent recent bets include a deal to take control of Norwegian paper maker Norke Skog, which the source said was now closed after Oceanwood secured a $150 million co-investment from other parties.

Oceanwood first gained exposure to Norske Skog in 2015 through credit investments.

It also remains short a number of leading Greek banks and has profited from a slide in their share prices this year, making 135 basis points from a fall in Alpha Bank and 160 basis points from a fall in National Bank of Greece, the source said.

(Reporting by Simon Jessop; Editing by Kirsten Donovan and Jan Harvey)

By Simon Jessop

Stocks mentioned in the article
ChangeLast1st jan.
ALPHA BANK SA 0.00% 1.23 Delayed Quote.-31.17%
NATIONAL BANK OF GREECE 3.02% 1.161 Delayed Quote.-64.67%
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Financials (€)
Sales 2018 2 491 M
EBIT 2018 1 225 M
Net income 2018 69,4 M
Debt 2018 -
Yield 2018 -
P/E ratio 2018 17,13
P/E ratio 2019 8,66
Capi. / Sales 2018 0,76x
Capi. / Sales 2019 0,84x
Capitalization 1 899 M
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 2,20 €
Spread / Average Target 79%
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Managers
NameTitle
Demetrios P. Mantzounis Chief Executive Officer, Executive Director & MD
Vassilios T. Rapanos Non-Executive Chairman
Spyros Nicolaos Filaretos COO, Executive Director & General Manager
Vassilios E. Psaltis Chief Financial Officer & General Manager
Spyridon P. Tzamtzis Manager-Information Technology
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