Calyon last week announced plans to grow its global CDO staff by one-third. The news came amid a shake-up that left the investment bank without several key members of its U.S. CDO team, including cash CDO head Alexander Rekeda.

Nonetheless, the global investment bank is aiming to generate enough U.S. CDO volume and revenue to land among the top five CDO underwriters in the country, a move that would bring it closer in line with its European CDO market standings, said Loic Fery, a managing director and global head of credit markets and CDOs at Calyon, a unit of France's Credit Agricole.

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