An exiled fixed-income market veteran in the last two months has laid plans for its return in the midst of a turbulent and downcast year for products like commercial mortgage-backed securities.

Nomura Securities International's recent hire of longtime Goldman Sachs and Morgan Stanley Dean Witter veteran Alex Noujaim to head its U.S. fixed income division has rejuvenated the company's once-potent but recently dissipated structured finance shop. Noujaim has made roughly 15 hires since May, poaching pros from Donaldson Lufkin & Jenrette and PaineWebber Group, among others, and will keep his trigger finger active in the months to come.

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