PrimaryBid Appoints Stacey Parsons as New Managing Director and Head of Fixed Income

In a move set to enhance investor inclusion in company fundraisings and fixed income investment products, capital markets technology firm PrimaryBid has announced the appointment of Stacey Parsons as Managing Director and Head of Fixed Income.

Aiming to Unlock Investor Access

The appointment of Parsons is expected to boost PrimaryBid’s mission to increase investor access to high-quality corporate debt and sovereign issuance. By leveraging its technology infrastructure and capitalizing on its strategic partnerships, the firm seeks to continue advocating for investor inclusion initiatives in the UK and EU.

Parsons brings to the table 25 years of industry experience, having spent a significant amount of time as a retail gilt-edged market maker (GEMM). She is also the founder and Chair of the Investor Access to Regulated Bonds working group (IARB) and a member of the London Stock Exchange Group’s Primary Markets Group. Prior to her appointment, Parsons served as the Head of Fixed Income Strategy at Winterflood Securities.

Aligning with Regulatory Changes

The timing of Parsons’ appointment aligns with a crucial period in the UK’s capital markets reforms. Lawmakers are currently aiming to enable and encourage broader investor participation in public regulated markets. The UK’s Financial Conduct Authority (FCA) recently pointed out that debt regulation, initially designed to protect investors, has unintentionally excluded smaller scale participants from the best products.

Currently, only 1% of regulated UK debt issuance is accessible to retail, despite debt ranking higher in the capital structure than equity. The FCA is now considering reforms in this area, which are expected to be implemented in 2024.

The Vision for PrimaryBid

Parsons highlighted that debt capital markets remain largely inaccessible to UK retail investors and wealth intermediaries. However, she believes that the impending changes in regulation will align the UK with other regions that have seen a dramatic increase in direct ownership of sovereign and corporate debt.

PrimaryBid CEO, Anand Sambasivan, expressed excitement over Parsons’ appointment. He stated that her in-depth sector knowledge, impressive track-record, and excellent leadership skills would be instrumental in achieving the company’s goal of delivering more inclusive capital markets. He further emphasized the company’s commitment to transforming the historical challenges of including individuals and communities into opportunities through the use of new technology and partnerships.