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Angel Oak Capital Advisors announced this week it has hired Manmohan ("Manu") Singh as head of insurance solutions to spearhead a range of initiatives focused on the insurance industry. Singh officially joined the Angel Oak team in July.
He has 16 years of investment banking and strategic advisory experience in the insurance industry, specializing in the life and annuity sector. In his most recent role, Singh acted as an independent consultant offering strategic advisory services, including to Angel Oak Capital Advisors.
He also served as a director for the Insurance Investment Banking team at New York-based Sandler O’Neill & Partners. During his 12-year tenure at Sandler O’Neill, Singh worked exclusively with insurance companies, advising them on capital raising and M&A-related matters. He has served in a number of key M&A transactions, particularly those involving entry of private equity buyers and alternative asset managers into the life and annuity sector.
"It is an exciting time to be part of Angel Oak, which has been growing rapidly,” Singh said. “It has become a leader in the area of non-QM origination and is widely recognized for its specialized expertise in the structured credit space.”
Singh added that because he has worked with Angel Oak in the past, he has "a great understanding of what Angel Oak offers as well as a keen awareness of the range of opportunities that niche asset origination and specialized structuring expertise can provide to insurance companies amidst the ‘lower for longer’ interest rate environment that has and continues to severely depress investment yields and the return on equity for insurance companies."
Sreeni Prabhu, managing partner, co-CEO, and group chief investment officer at Angel Oak Capital Advisors, said the firm hired Singh “to lead Angel Oak’s insurance initiative due to his extensive industry experience and his unique understanding of our investment philosophy in the U.S. structured credit market."
Prabhu added that Singh’s hiring "was a strategic growth decision years in the making. We are excited to bring Manu onboard. With his guidance, Angel Oak looks forward to creating and executing mutually advantageous business opportunities in the life and annuity sector."
In addition to Singh’s hiring, the firm also announce the promotion of Randy Chrisman from chief marketing officer to chief marketing and corporate investor relations officer. As of July 1, Chrisman, who began working for the firm in 2012, began overseeing the integration, development, and strategic messaging of the Angel Oak Companies brand. He is also guiding the firm’s investor relations efforts at the corporate level.
For more information, visit www.angeloakcapital.com.