Bear Stearns International announced last week the appointment of three executives to senior posts within its London-based international mortgage group. Fred Khedouri was appointed head of European residential mortgage and consumer loan origination while Doug Lucas was named head of European ABS trading. Virginia "Ginny" Darrow was also appointed chief executive officer of Bear Stearns subsidiary Rooftop Mortgages. All the new appointees were previously based in New York.
"Our mortgage business is expanding rapidly in Europe and it is a key priority for us," said Michel Peretie, chairman of Bear Stearns International. The new hires signal the firm's commitment to further developing its mortgage business in Europe, according to Tom Marano, senior managing director and global head of mortgages for Bear Stearns. "Our U.S. mortgage business is unmatched on Wall Street and these senior appointments underline our commitment to further expand our European footprint," he said.