Longtime Lehman Brothers structured finance co-head Martin Harding is resigning his post in what some market observers are calling a harbinger for further disruptions in the market.
Harding had been at Lehman for more than 10 years, most recently as managing director and co-head of MBS and ABS finance. The resignation is amicable and he is not severing ties completely, as he will continue to work at Lehman on a consulting basis. Sam Tabet will be taking over the majority of Harding's residential mortgage finance duties, while co-head Bill Lighten will oversee all of structured finance. Nelson Soares will continue to head up the ABS unit.