News

Goodson: Uncertainty Driving Securitized Asset Market

May 19, 2020

Voya Investment Management Head of Securitized Products Dave Goodson recently spoke with the Debtwire podcast about investment opportunities in the securitized products sector, including CMBS, RMBS and consumer ABS. Dave provided a detailed assessment of many product categories during the nearly 30 minute discussion. According to Goodson, “there’s so much going on in the market now. Things are so uncertain and evolving so rapidly that you can’t take your eye off of any of the balls in the air right now.” Continuing, Goodson said, “probably where we see the most hour-to-hour developments that impact our risk-taking would be in the CMBS market. That space became extremely dislocated in March and into early April. Things have started unthawing and we’ve come back a bit ... but we’re still monitoring every remittance report that comes in for information and for potential clues to the longer-term outlook.”

Read More

Michaud: Voya To Reassess Commercial Real Estate Strategy To Adapt To New Environment

May 15, 2020

Voya Investment Management’s Managing Director and Head of Real Estate Finance Greg Michaud recently spoke with Connect Media about “ways institutional lenders are approaching the COVID-19 crisis, and what borrowers need to know about financing their real estate projects in this dynamic environment.” Voya “manages a $12 billion commercial mortgage balance sheet” with investments “split between fixed rate, low leverage, core loans and floating rate, light transitional, core+ loans,” according to Michaud, though the company is planning to reassess its allocation in light of the changing environment brought on by the pandemic. Michaud notes that Voya “is also being a little more particular about the markets in which it invests” and the company “will continue to track the rent collection numbers and focus investment capital on the geographic areas that outperform other markets.”

Read More

Hurtsellers: Unemployment Pain Could Be Relatively Short-Lived

May 15, 2020

Voya Investment Management CEO Christine Hurtsellers was on Bloomberg discussing recent job losses, which have so far put 36 million Americans out of work in just the last 8 weeks. Hurtsellers believes an optimistic view is that job losses could be short-lived, saying, “our Federal Reserve and our Treasury Department acted so quickly using what they learned in 2008 and provided 3-4 times the stimulus as other central banks which is limiting the structural damage that we could potentially see.” While those moves have limited the downside impact, looking at the upside, Hurtsellers said that the government has thus far “only deployed about 50% of what they’re intending to do,” meaning that other areas of the economy should begin receiving support in the near term. Her interview begins near the 4:30 mark.

Read More

Voya’s Toms: Fed Intervention Gives Financial System A Chance To Recover

March 28, 2020

Voya Investment Management Chief Investment Officer for Fixed Income Matt Toms spoke with Bloomberg about the Federal Reserve’s efforts to stem losses and help support the U.S. financial system as the coronavirus-induced lockdown impacts the global economy. Toms said of the Fed intervention, “The tools are in place, now you need to run the machine. You need time for the system to heal, and it is healing.”

Read More

Voya’s Zemsky: Investment Grade Companies Should Weather The Storm

March 27, 2020

Voya Investment Management Chief Investment Officer for Multi-Asset Strategies and Solutions Paul Zemsky was on Bloomberg TV discussing recent market volatility and where markets may be headed as the pandemic continues to impact the economy. Zemsky said of last week’s rebound, “I chalk it up to an oversold market ... plus progress on the fiscal package.” Looking at the risk of corporate defaults, Zemsky believes that the fiscal stimulus plus the previous high-level of economic health means that most large companies should be able to withstand the shock. “When you look at investment grade companies, they have a tremendous amount of reserves and the ability to weather storms. That’s how you get an investment grade rating ... high-yield companies have been hit harder, but investment grade companies should be able to weather the storm and with the fiscal help, smaller companies should as well.”

Read More

Continuing: Voya Names Co-Heads Of Regional & Community Bank Advisory Program

March 27, 2020

In continuing coverage, ABL Advisor reports Voya Investment Management last week “announced that Randy Cameron and Dave Wood have joined the firm as senior vice presidents to co-head the firm’s Regional and Community Bank Advisory Program. Based in Salt Lake City, both report to Charlie Shaffer, head of Distribution, Voya Investment Management.” In their newly created roles, Cameron and Wood “will work with regional and community banks to advise them on implementing customized portfolios of diversifying credits, including senior secured, commercial and industrial loans.”

Read More

Continuing: Voya Investment Management Adds SVPs For Bank Advisory Program

March 26, 2020

In continuing coverage, the ABF Journal reports Randy Cameron and Dave Wood have “joined Voya Investment Management as senior vice presidents to co-head the firm’s regional and community bank advisory program.” In this new role, Cameron and Wood “will work with regional and community banks to advise them on implementing customized portfolios of diversifying credits, including senior secured, commercial and industrial loans.” Voya Investment Management Head of Distribution Charlie Shaffer said of the program, “While community and small regional banks have historically excelled at small business underwriting and relationship management, Voya’s regional and community bank advisory program recognizes that the syndicated loan market demands a broader industry knowledge and timely action. Clients benefit from Voya’s unique market leadership, experience, relationships, credit risk management, training and sourcing capabilities while effectively keeping independent research and decision-making within their walls, thus satisfying regulatory requirements.”

Read More

Voya Hires Two Executives To Lead Regional Bank Advisory Program

March 26, 2020

Bloomberg reports Voya Investment Management “has hired Randy Cameron and Dave Wood to lead the firm’s Regional and Community Bank Advisory Program.” The program “helps client banks acquire senior secured commercial and industrial loans in a customized portfolio.” The pair will be based in Salt Lake City and report to Head of Distribution Charlie Shaffer. Prior to joining Voya, Cameron and Wood “founded Financial Institution Growth LLC, a registered investment adviser that specializes in working directly with select commercial banks to introduce and approve loan programs.”

Read More

Voya’s Toms Discusses Outlook For Financial Markets As Virus Outbreak Continues

March 26, 2020

Investment & Pensions Europe looks at how markets and investors are responding to the coronavirus outbreak, specifically the search for safe havens as volatility increases. Voya Investment Management Fixed Income CIO Matt Toms is surprised the dollar has not experienced a spike in valuation as a safe haven, noting that “currency volatility has been subdued, benefiting interest rates as the currency relationship changes.” Toms hopes that the scope and disruption caused by the outbreak are limited to the short-term, with any recessionary effects limited to several quarters. “That should create a spring-loaded effect, so any abatement in the summer months or a bounce in medical advances could be quite strong,” says Toms.

Read More

Hurtsellers Named One Of 100 Most Influential Women In U.S. Finance

March 20, 2020

Barron’s has named Voya Investment Management CEO Christine Hurtsellers to its 100 Most Influential Women in U.S. Finance list, praising her “strategic direction and operational performance of more than $217 billion in assets” as she has helped guide strong growth at the company. Voya Financial Chairman and CEO Rodney Martin said of Hurtsellers, “Not only has Christine created, and executed, on an ambitious strategy to grow this business, at the same time she has never lost sight that it’s her people who make investment management successful.” Besides her individual recognition, the article notes that Voya Financial was also named to the top three in Barron’s 100 Most Sustainable Companies ranking, with Hurtsellers saying, “I am incredibly proud on behalf of all Voya employees, and for our clients, of what we’re delivering here.”

Read More