In the completion of the previously announced restructuring within Banc of America Securities (see ASR 7/21/03), Global Asset Securitization operations have been split into two groups - Global Structured Finance and Residential Mortgage Finance. Within Global Structured Finance are ABS, CDOs and real estate finance, including CMBS, while Residential Mortgage Finance encompasses residential loans and mortgage-backed securities.
Jointly heading the Global Structured Finance group are managing directors George Ellison and Chris Hentemann, who was promoted from head of ABS/MBS trading and syndicate. The Residential Finance group will be co-headed by Ellison and managing director Antoine Schetritt.
Both Hentemann and Schetritt report to Pat Augustine, who heads the Asset Securitization and Investment-Grade Debt, while Ellison reports jointly to Augustine and Carter McClelland, president of Banc of America Securities. Both Augustine and McClelland continue reporting directly to Ed Brown, head of Corporate Investment-Grade Banking for BofA.