JPMorgan Securities is beefing up its research team with the addition of Andrew Weber, who will move over from the CDO structuring group, where he had worked since 1997. Weber will cover both U.S. and European CDOs in his new role, reporting to group head Chris Flanagan.
With experience in both CDOs and credit derivatives, Weber has worked on some of the more innovative structures that JPMorgan has brought in the past. Currently JPMorgan is No. 8 in terms of supply brought to the CDO market, according to Thomson Financial, with five new issues led for a total of $1.5 billion.
"We were exceptionally fortunate to get someone of Andrew's caliber added to our team," said Flanagan. "We think investors will be particularly interested to hear his broad, hands-on perspective on the CDO market."
Additionally, to bolster its European ABS research effort the firm added Doreen Tan, who moved over from JP Morgan Investment Management earlier this year. Tan will work out of London, reporting to Ed Reardon, who currently spearheads the foreign ABS research effort. She has six years experience as a buysider.
In other news within the group, Linda Yu has been moved to Tokyo and will act as a link between the New York home base and the steadily increasing Asian investor base. Yu previously covered U.S. term ABS and ABCP for JPMorgan.