Published on : May 28, 2015
According to analysts, Symon Drake-Brockman hailing from Australia is on the forefront of the revolution which is about to take the European finance industry by storm. The former head honcho in the debt markets department at Royal Bank of Scotland, Symon Drake-Brockman has now taken over the realms of Pemberton Asset Management located at the genteel community of Belgravia in London.
Drake-Brockman spends most of his days finalizing partnership deals and associations with Legal&General the prominent British insurer. But the deal is carried by lending its cash rather than investing it on agreed projects.
Drake-Brockman is one among the growing number of financers who have focused to collaborate with insurers and pension fund providers to create loan books for rival banks. There activities have transformed the services of many financial firms into banks in all sense but the name.
In a recently released interview Drake-Brockman said that financers like him work as a lender. To propagate their services they meet several borrowers in day and work towards developing a healthy relationship just like they would do if they were sitting in a similar designation with leading banks such as ING or RBS.
Further he mentioned that it should not be a surprise for the generation or the society if they are seen developing large regional lending businesses, where the scale of operations in no way will differ from that of actual banks, who actively lend in the sector of mid-market corporate.
This is not a new trend. Financers in the United States have already exhibited the capacity of lending more fund then domestic banks capitalizing on the large volumes of government, municipal, and corporate bonds. The European Commission is vying to develop a fund economy on similar lines by leveraging sources of funding in Europe by launching Capital Markets Union and relaxing the country from the excessive dependence on banking finance.