Dr Colin Lally
Dr Lally started as an Analyst in Nomura’s Principal Finance Group in 1996 and left in 2001 as a Director in the Securitisation Team. During this period, Dr Lally was a key architect of the European operating company securitisation market, working with such diverse asset classes as train rolling-stock, pub portfolios, MoD housing, silicon wafer foundries, and champagne and diamond inventories. He joined Marsh & McLennan Structured Products in 2002 as a Senior Executive working on securitisation transactions using conduit funding and insurance wraps. He re-joined Nomura in 2003 as Head of Corporate & Real Estate Securitisation, and from 2004 to 2008, was the Head of Corporate Securitisation, within the Real Estate Finance Group, at The Royal Bank of Scotland – the most prolific and successful operating securitisation business in Europe at that time. During his tenure he led the team responsible for, amongst other things, arranging virtually every pub operating business securitisation completed during that period, some £7bn worth of debt issuance. After an enjoyable decade teaching physics and astronomy at Cranbrook School in Kent, Dr Lally has recently joined Duir Capital Limited's Board of Directors, bringing his wealth of experience to this exciting asset-backed financing venture.
Richard Stow
Richard Stow started in the securitisation markets as a credit analyst at Standard & Poor's in 1991 at this time the market was mostly based on residential and commercial mortgages. In 1994 he became one of the two co-founders of the London office of DCR (Duff & Phelps Credit Ratings later Fitch). As the market became more sophisticated his experience became more diverse rating securitisations of assets such as trade receivables, consumer credit (eg auto loans or credit card debts), aircraft leases and even shipping containers.) Joining Nomura’s Principal Finance Group (PFG) in 1997 as a Director, he was mostly responsible for financing PFG’s acquisitions – including arranging syndicated loans and bond issues. He was one of the original architects of the nascent corporate securitisation market. During his time at PFG, he led the structuring for deals including Residential Mortgage Securities 1, Unique Pub Company Limited, Marne et Champagne SA and Rosy Blue Carat SA. After a short spell at Barclays Capital from 2001 to 2003, he joined AE Global Investment Solutions Limited ("Aegis") as a main board director and 50% shareholder. He left Aegis in 2015 to establish a personal investment fund and returned to Aegis as a consultant to establish a prototype Duir Capital as an operating division of that business. The independent Duir Capital Limited started trading in April 2021.
