A $9 billion fund just hired a star trader

Cairn Capital, a London-based fund management firm with $8.6 billion in assets under advice, has made a big hire.

The firm, which focuses on the structured credit markets, has hired former HSBC trader Asif Godall as deputy chief investment officer, according to people familiar with the matter. He will start in October.

Godall was the global head of traded credit at HSBC before leaving the bank in 2015. He had previously set up the bank's global macro strategies trading group.

He was listed on Financial News' list of rising stars in European finance in 2012, when he was aged 36.

Cairn Capital, which was set up in 2004, agreed a deal with Italian bank Mediobanca last year that saw the bank take a 51% stake in Cairn. Mediobanca has an option to buy some or all of the remaining 49% after three years.