Dutch investment bank NIBC, which is set to float later this month, has recruited Merrill Lynch Investment Managers' global head of structured products to run its proprietary and client-based fixed income investment business.

NIBC, which is owned by US buyout company JC Flowers, has taken on Fernando Guerrero, who has 20-years of experience in the structured credit markets. He joins NIBC Credit Management in New York as chief executive officer, and its parent NIBC as a managing director.