Cheyne Capital announces two new appointments

LONDON, 1st March 2009. Stephen Best joined Cheyne Capital in January 2009 as Partner and Senior Credit Analyst with 16 years' experience. Steve is responsible for the financial and telecoms sectors in Cheyne's Corporate Credit Team which has been headed by David Peacock and John Weiss since early 2002. Before joining Cheyne Capital, Steve was a Director at UBS Principal Finance, where he served on the Credit Committee with responsibility for credit selection and ongoing portfolio monitoring of a major managed CDO programme. As a leading sell-side analyst at Nomura covering the telecoms sector, he advised traders and investors through the TMT bubble and its aftermath and at RBS, as a member of the credit research team covering financials, he helped clients negotiate the Russian debt crisis. Prior to taking up his role as a sell-side credit analyst, he was a manager in the Internal Credit Rating Unit of NatWest's commercial and investment banking operations. He began his career as an accountant with Coopers & Lybrand and is a qualified ACA. He graduated from Oxford University with an MA in Politics, Philosophy and Economics.

Nicolas Vocos joined Cheyne Capital in February 2009 as ABS Analyst, responsible for modelling and analytics in Cheyne Capital's ABS Group. Previously, he was Associate at Deutsche Bank's Structured Credit Products Group, where he arranged and executed asset-backed securities on behalf of corporates, financial institutions, and governments in the UK, Portugal, Greece, and Spain. He was responsible for pricing and executing acquisitions of non-performing loans and was involved with risk management analytics and hedging of the RMBS/ABS proprietary portfolios. Prior to Deutsche Bank, he worked for six years at Banco Hipotecario SA in Argentina, where he was Vice President involved with structuring and executing debt and risk management transactions. He and his team modeled and executed one of the largest bank debt restructuring deals in South America. They also structured an innovative cross-currency swap with a credit-linked feature, which won several awards in the LatAm region. Nicolas earned a BSc in Economics from the University of Cordoba in Argentina and two Masters of Finance degrees, from Torcuato Di Tella University in Argentina and from London Business School.

Cheyne Capital is one of Europe's leading alternative asset managers. Cheyne Capital Management (UK) LLP is authorised and regulated by the FSA. The firm specializes in corporate credit, asset-backed securities, equities, and event-driven investing. Cheyne Capital Management was founded in November 1999 and is based in London.

Cheyne Capital Management (UK) LLP
Stornoway House
13 Cleveland Row
London
SW1A 1DH
United Kingdom

T: +44 (0)20 7031 7450
F: +44 (0)20 7031 7680

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