Jefferies & Co. hired Andrew Peisch as the firms fixed income division as a managing director and co-head of MBS/ABS banking and origination.
Peisch was most recently a managing director and head of structured credit products banking and origination for the Americas at Deutsche Bank, where he had a six-year stint.
Peisch will co-head the firms MBS/ABS banking and origination group along with Adam Smith, who joined Jefferies in April 2008. Together, Peisch and Smith will lead the firms underwriting and structuring effort for MBS/ABS deals, including the incorporation of related government programs. They will jointly report to Johan Eveland and William H. Jennings II, co-heads of Jefferies MBS and ABS group.
In a joint statement, Eveland and Jennings, said: "We are pleased to welcome Andrew Peisch to our team and believe his exceptional experience, product expertise and industry contacts will enable Jefferies to continue the strong momentum weve recently achieved in this business. As the MBS/ABS market recovers with stimulus from various government programs, we see a tremendous opportunity for Jefferies to add value for our clients.
Im very excited to be part of the MBS/ABS team at Jefferies and see great opportunity in working to continue the firms strong growth in the MBS/ABS platform, Peisch said.
The addition of Peisch marks the next step in Jefferies continued commitment to building its structured finance business. Jefferies' MBS/ABS group now includes more than 50 sales, trading and execution professionals in the U.S. and London. Jefferies was ranked no. 1 for U.S. CMO issuance during the 4Q08 ($3.8 billion, 28% share of market), and ranked as the no. 1 bookrunner of U.S. MBS origination for all of 2008 ($4.1 billion, 17% share of market).Before leading the MBS/ABS banking effort at Deutsche Bank, the new hire led the effort at both Prudential Securities and Merrill Lynch, where he spent 11 years.