Bear Stearns adds to its Euro ABS team

Bear Stearns International Ltd. just announced the hiring of five asset-backed professionals. Adam Toft was hired as managing director responsible for orignating, structuring and distributing real estate loans through CMBS and loan syndications. Toft, who reports to Head of European Principal & Asset Backed Finance Andrew Clapham, was formerly head of Moody's Investors Service's European, Middle East and Asia CMBS group. Also hired under Clapham's group were former Halifax Bank of Scotland employees Peter McAnally and Marie Fernandez who will handle euro-denominated real estate loans. Michael Dirnegger, formerly from RZB bank, has joined the firm to oversee the origination of real estate loans, residential mortgages as well as CDOs in Germany. Former Calyon employee, Jesus Rio Cortes, will be part of Richard Downer's residential mortgages team focusing on Spain and Portugal.