Today Moody's Investors Service named Michael Kanef as Group Managing Director of the term ABS, RMBS and ABCP teams, succeeding Andrew Silver, who is leaving the rating agency to accept a professorship at the business school at Rutgers University.
Kanef was previously a co-head and team managing director over term ABS. Silver's resignation was announced internally on Monday (click to see coverage).
As part of the re-org, Linda Stesney is moving out of the Latin America group to become a co-head and team managing director in the term ABS group, sharing responsibility with co-heads Jay Eisbruck and Milton Chacon. The three report to Kanef, along with Claire Robinson, team managing director, ABCP, and RMBS co-heads Pramila Gupta and Jay Siegel. It is undecided at this time who will assume Stesney's responsibilities in Latin American securitization.