According to an internal memo obtained by ASR, the Americas asset securitization group (ASG) at Barclays Capital will now be co-headed by Jay Kim and Cory Wishengrad.
The internal memo said that Kim has been with the firm since 2001 after joining from Salomon Smith Barney and most recently has led the automotive, equipment and prime mortgage vertical within the ASG team. Meanwhile, Wishengrad has been with the firm since 1999 and has led the esoteric ABS vertical within the ASG team since early 2009.
"We are extremely excited about the breadth of experience that Jay and Cory bring to their new leadership roles and expect their partnership to further advance our world class securitization franchise and solidify our #1 ranking across asset classes in the US securitization league tables," said Larry Wieseneck, head of global finance and risk solutions at the bank, in the internal memo.
The two replace Michael Wade, the former managing director and head of asset securitization for the Americas at the bank, who has reportedly been with the bank since 1994. There is no word on where Wade went to, but sources confirmed that he is no longer with the firm.
A spokesman from Barclays confirmed the contents of the internal memo obtained by ASR.