Melbourne-headquartered Australia and New Zealand Banking Group (ANZ) has announced a new leadership appointment within its leveraged and acquisition finance business.
Michael Isaacs, who has been with the bank since 2015, has been appointed as co-head of Origination, Leveraged and Acquisition Finance for Australia, according to a note shared with media.
He most recently served as executive director within the bank’s Loan Syndications team and brings to the role strong deal origination and leadership capabilities, the announcement detailed.
Speaking to FinanceAsia, Isaacs said that as he settles into the new role, he will work closely with the full team to ensure growth across the bank’s Leveraged and Acquisition Finance franchise.
He offered FA his perspective on themes observed across the local market.
“In this volatile market, the ongoing stability, availability and volume of traditional bank financing is attractive to sponsors seeking certainty of funding to close acquisitions.”
He explained that in the current environment, vendors and buyers are having to adjust to the impact of changing interest rates on financing costs and valuations, but that opportunity in the leveraged finance space offers relatively attractive returns to investors experiencing profit pressure.
“The leveraged finance market offers a range of opportunities that can meet a wide range of risk appetite parameters, allowing investors flexibility in meeting their own risk-return parameters.”
Based in Sydney, the new role will see Isaacs work alongside Leigh Johnson, a leveraged finance banker with a 16-year tenure at ANZ.
Prior to joining ANZ, Isaacs led Infrastructure and Acquisition Finance for Australia at RBS and also spent time working at Bank of Tokyo-Mitsubishi UFJ (MUFG).
In his new capacity, he reports to Mark Aldous, head of Asset and Leveraged Finance.
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