Fitch Ratings has reorganized its securitization leadership after the departure of former head of U.S. structured finance John Bonfiglio.
As a result of Bonfiglio's departure, John Olert, head of global structured credit at the rating agency, will be heading up the ABS group. Kevin Duignan, who used to head up ABS, is now the head of corporate communications at the rating agency. Duignan is replaced Michael Ballinger who left Fitch earlier this year.
Huxley Somerville, previously head of U.S. RMBS at Fitch, will now be overseeing both RMBS and CMBS.
Susan Merrick will still manage the rating firm's CMBS group's day-to day operations.