10.24.2025

Marex Opens EMEA Emerging Markets Credit Desk

10.24.2025
Emerging Market FX Trading: Liquidity Challenges

Leveraging deep industry experience, a new team has joined Marex to provide clients with a trusted level of strategy, trading proficiency, and desk analyst support within the firm’s growing global credit business.

Marex announces the launch of its EMEA Emerging Markets (EM) Credit desk, offering a hybrid model that combines agency execution with selective principal risk-taking abilities to better serve institutional clients across sovereign and corporate debt.

The desk is led by Head of European and Asian Emerging Markets, Aaron Fernandes, who brings over 25 years of EM experience across London and New York, including leadership roles at Barclays and most recently, with Jefferies. Joining him are Head of EM Strategy, Matthew Vogel, and Senior Trader, Paul Timmons and several other high calibre industry professionals. Together they will roll out a desk analyst product, providing actionable, content-forward insights to clients.

Initial coverage will focus on higher-yielding opportunities across North Africa, Sub-Saharan Africa and parts of Asia, offering corporate and sovereign credit coverage.

The launch builds on Marex’s recent credit expansions with Marex’s entrance into EM credit through the launch of its LATAM EM desk earlier this year, led by Head of US Emerging Markets, Mike Rowe.

The desk provides:

  • Hybrid model: agency, execution and trading with selective use of balance sheet to provide liquidity and extend client credit where appropriate
  • Agility and flexibility: a white-glove client service model led by a senior, cycle-tested team helping clients move quickly in complex markets
  • Analyst driven product: concise, actionable research from experienced sovereign and corporate analysts integrated with insights from seasoned traders.
  • Global access: coordinated coverage across regions and liquidity pools, leveraging Marex’s global presence

Paolo Tonucci, Chief Strategist and CEO of Capital Markets, Marex commented:

“Expanding in credit is central to our strategy of building a full-service offering for institutional clients. EM credit is a natural next step: it rewards experience, speed and thoughtful use of balance sheet. Aaron and the team bring a wealth of credit experience, and we are confident their services will bring real value to clients across our global network.”

Aaron Fernandes, Head of European and Asian Emerging Markets, Marex commented:

“Emerging markets still benefit from a high-touch, client-led model. Our hybrid approach allow us to be a speedboat in a market of tankers—pairing agency execution with targeted risk-taking and the ability to extend credit to clients when it makes sense. Backed by Marex’s global platform, we’ll focus on delivering practical guidance, solutions, and liquidity where it’s needed most.”

Source: Marex

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