Continuing its string of new hires, Barclays Capital has appointed Kenneth Rosenberg as part of its securitization syndicate team.
Rosenberg reports to Brian Wiele, head of Americas securitization syndicate at the bank. He most recently was at Credit Suisse as a director in ABS in the structured products syndicate.
The bank started adding aggressively to its securitization staff after Jay Kim, the former co-head of the bank's U.S. asset securitization team left early this year. Kim, who brought with him at least 10 Barclays bankers, started at Credit Suisse in May as head of the bank's asset finance team.
Barclays, since Kim's departure, has made several new hires and appointments, including Martin Attea from Morgan Stanley as the senior originator of consumer securitization transactions in the securitized products origination group.
In April, Barclays appointed Diane Rinnovatore as Kim's replacement. She became co-head of securitized products origination (SPO) along with with Cory Wishengrad, who is currently co-head of SPO and head of the esoteric ABS origination group at the bank. Rinnovatore has been in debt capital markets covering banks for three years before the appointment. Before this, she was co-head of securitized products banking at Lehman Brothers.
In related news, the National Credit Union Administration (NCUA) this week announced that its final NCUA Guaranteed Notes Trust (NGN 2011 M-1) deal closed. The transaction, which mostly comprised RMBS,around $2.21 billion in proceeds for NCUA. This last offering brings the total number of NCUA Guaranteed Notes (NGN) offerings to thirteen, which were all lead managed by Barclays.
This last transaction marked NCUA's securitization of all of its legacy assets that were intended to be securitized to finance the deposits assumed by its bridge corporate credit unions. Securitization proceeds amounted to $28.3 billion from all NGN transactions.
Meanwhile. yesterday, Asset Securitization Report reported new appointments at Credit Suisse (click link for complete story).