Fitch chief who downgraded UK joins hedge fund giant BlueBay

Michael Bow
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THE MAN who stripped Britain of its triple-A rating re-emerged yesterday as head of strategy for one of Europe’s biggest bond hedge fund.

Former Fitch Ratings head of sovereign ratings David Riley, who was blasted by Conservative MP David Ruffley at an inflammatory select committee hearing in April, will join BlueBay Asset Management in September.

Riley left Fitch last month and led the rating agency’s decision to strip the UK of its triple-A in April amid of raft of downgrades by other agencies.

He will join BlueBay, based in Mayfair and one of Europe’s biggest distressed debt investors, as partner to lead the group’s credit strategy.

BlueBay manages $55.7bn and specialises in bond trading.