Filling the void left by the departure of John Rhinelander (See ASR 7/23/01), Scott Davidson and Andrew Dym, both managing directors, have been named co-heads of the North American asset-backed business for JPMorgan, the company recently announced. The pair will jointly be responsible for the term public, private placement and ABCP activities in North America.
They will report to Michael Malter, head of N.A. investment-grade capital markets and Blythe Masters, head of N.A. structured products.
Davidson joined then Chemical Securities in 1993, moving into the ABS unit in 1994, until assuming responsibility for the firm's CMBS operations in 1997 up until the closing of the JPMorgan-Chase merger earlier this year. Since then Davidson had been in charge of North American structured credit activities.
Dym joined Chemical Securities in 1994, and had since risen to run the company's auto and equipment-lease securitization operations, areas of the ABS market where JPMorgan was the leading underwriter.
The two will have the responsibility of running the ABS term business, both public and private; ABCP, both structuring of single- seller programs as well as responsibility for all of JPMorgan's CP conduit business: PARCO, Delaware Funding and AP Funding; structuring of ABS-driven bank executions, including bridge and warehouse activities related to the ABS business or clientele; and advisory business which requires ABS technology.