Whitepaper - Man Group - Bank on it: Credit opportunities within Financials

Banks came under significant stress in early 2023. US regional banks such as Silvergate, Signature and perhaps most famously, Silicon Valley Bank (SVB), collapsed. European giant Credit Suisse had to be rescued by UBS in a deal brokered by the Swiss government and the Swiss Financial Market Supervisory Authority. While we believed it was localised within certain subsectors of the industry, the market implied that the entire banking sector would undergo stress. More than one year on, what do banks look like and where are the risks and the opportunities for credit investors?

Authors:

Alan Bowe, Portfolio Manager, Man Group
Matthew Moniot, Co-head of Credit Risk Sharing, Man Group
Sam Tomlinson, Credit Analyst, Man Group

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