It has not even been a week after news broke that Jay Kim, co-head of Barclays Capital's U.S. asset securitization team, will be moving to Credit Suisse in May to head up the bank's asset finance team, bringing with him around 10 Barclays bankers.

However, Barclays has moved very quickly to hire Martin Attea from Morgan Stanley, where he is an executive director in global structured solutions. Attea will be re-joining Barclays as the senior originator of consumer securitization transactions in the securitized products origination group. He will be based in New York.

Prior to to Morgan Stanley in late 2009, Attea worked at Barclays, which he joined in September 2008 as part of the Lehman Brothers acquisition, where he had worked since 2003.

"Marty's return to our securitized products origination team underscores our market leading franchise across securitized products,” said Jim Glascott, head of global debt capital markets. “As always, our issuer and investor clients are our top priority; Marty's expertise in consumer securitization will be an excellent addition to our best-in-class syndicate, sales, trading, origination and conduit teams, which continue to provide seamless execution for our clients across every asset class."

Kim's move comes less than a year after former head of U.S. asset securitization at Barclays  Michael Wade joined Credit Suisse to be managing director and co-head of asset finance in the global markets solutions group together with long-time Credit Suisse securitization banker Tricia Hazelwood.

The speed in which Barclays appointed Attea to replace Kim seems to indicate that the bank remains committed to the consumer ABS business, which is the void that Kim left behind.

It is unclear what the structure of leadership at Barclays will be or whether Attea will be co-heading the group alongside Cory Wishengrad, who is currently co-head of Barclays' U.S. asset securitization team and head of the esoteric ABS origination group at the bank.

For a related story, please see this link.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.