European securitization veteran David Bonsall is retiring at the end of March and will be replaced as CIBC World Markets' head of international securitization by Fazel Ahmed.

Ahmed, who is currently head of the firm's Asian ABS practice and is based in Singapore, will return to London, though he will continue to oversee the business in Asia in his new role.

Both Bonsall and Ahmed arrived at CIBC with Mark Lewis and many other colleagues en masse from the Union Bank of Switzerland after the merger with Swiss Bank Corp. in 1998.

Mark Lewis recently left his position as head of European securitization at CIBC to join ABN AMRO.

Bonsall is one of the European market's most experienced pros with many innovative deals - and "firsts" - under his belt.

CIBC's head of global structured finance, Michael Neilson, said: "I am pleased that we have in place an orderly succession."

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