Story from StucturedRetailProducts.com 2012 ©
Former Skandia head starts SP consulting firm
Philip Bastiman (pictured), the former head of structured products at Skandia Investment Group, has re-emerged in the structured products market as managing director and founder of his own firm, Structured Investment Solutions Limited.
Bastiman told SRP that Structured Investment Solutions will provide expertise and interim resources to organisations buying and selling structured products and derivatives: “This could include private banks, asset managers, investment banks, insurance companies and financial advisers,” he said. “I believe that structured products have the flexibility to meet a wide range of investment goals and the key is to find the right solution for the right client. There are a number of challenges ahead including new regulations and demanding market conditions but I am optimistic for the future of the industry.”
In his new role, Bastiman will be working with partners who offer advice on derivative clearing and collateral and alternative resourcing – including providing cost-effective, flexible, consulting and alternative resourcing solutions – to financial organisations.
Structured Investment Solutions, said Bastiman, will enable clients to understand their customers’ needs and develop innovative solutions to meet them…”helping to ensure they have the knowledge, risk controls, governance and processes to deliver appropriate solutions for their clients,” he said. “The idea is to provide a cost effective, flexible service that can bridge gaps in resources, knowledge or experience across an organisation.”
The firm does not plan to launch its own products and will work with issuers and investors to build better solutions for their clients.
Some of the projects Bastiman is currently working on include “improving marketing activities to increase sales, identifying the right product mix and target markets and addressing regulatory changes.”
As reported, Bastiman left Skandia in March 2012 after more than a year, where he built the Swedish firm’s structured products business including the launch of products in the UK, South Africa and Scandinavia.
Bastiman joined Skandia from RBS International Investor Solutions in 2010 where he was director of product development and marketing. He joined RBS Coutts in 1999, as global head of customised investments with a focus on the delivery of structured investment products to the Coutts UK and Coutts International businesses, and later developed products for other private banks in the RBS Group.
Prior to this, he helped establish the equity structured products business at Nomura International.