The American Securitization Forum just announced that Louis Lucido, group managing director at Trust Company of the West, will serve as chair of its newly formed CDO collateral managers subforum while Chris Ricciardi, CEO of Cohen Brothers, will be the deputy chair. The new group will focus on market standards and practices, legal and regulatory advocacy and communications and conferences in the CDO sector, aiming to increase market transparency, efficiency and liquidity.
"We plan to explore ways to promote the exchange of information, education and opinions about the CDO market and the important role collateral managers play," said Lucido in a statement released by the ASF. "The market can benefit from improved knowledge about the asset class and enhancements to current business practices."
Meanwhile, Cohen Bros.' Ricciardi said"We believe this group can make a significant contribution to enhancing investor knowledge of and comfort with CDO products, and as a result help this important market continue to grow and prosper."
The subforum's mission includes developing recommended business standards and best practices among collateral managers and other CDO market player in various areas, including credit analysis, due diligence, documentation and offering process mechanics. The group also aims to improve information flows to investors and facilitate widespread access by collateral managers to underlying deal information, documentation, data and analytic resources.