CIFG is expanding its European presence with the hiring of Richard Lumley as director and Louise van der Boon as an associate for its European structured finance team. This is a response to the growing European asset-backed market, specifically in the consumer and mortgage-backed arena.
"We are seeing a wealth of opportunities in the consumer and mortgage-backed sectors in both Northern and Southern Europe. We need the staff to respond to this growth," said Charles Gundy, managing director, head of European structured finance, at CIFG. The two new hires will be reporting to Gundy. He said that Lumley and van der Boon will be focusing on RMBS and consumer ABS, which includes auto loans and unsecured personal loans that finance consumer durables and home improvement. He also said CIFG Europe will also pursue opportunities in corporate securitization.
Lumley joins the monoline after three years at Rabobank International, where he most recently served as head of structured credit and securitization, risk division. Before his stint at Rabobank, Lumley spent three years at HBOS Treasury Services.
Van der boon was previously from Fitch Ratings, where she was a performance analyst for European structured finance. The new hire has experience in analyzing a huge range of complex financial structures, including prime and non-conforming residential real estate transactions in various European countries.
CIFG, which is currently building a stronger presence in Europe, is capitalizing on its status as being the first U.S.-based monoline that is connected to a well-established European parent. Andy Dym, managing director, head of global structured finance and capital markets group said, "Our European office offers a wide variety of services with Pascale Viala heading up the CDO and insurance-related efforts and Charles in the other areas of structured finance." He added that CIFG is "always looking for high quality, solid people to develop growth areas that we have in mind. We are actively looking to selectively penetrate various growth opportunities in the European market place sooner rather than later."
Currently, CIFG has 17 professionals in its structured finance division, with 11 based in U.S. and six in Europe.