The Austin, Texas-based Amherst Securities Group, a broker-dealer specializing in RMBS, said it has hired executives to expand its reach in securitized products.
Joining the firm are Andrew Beal, managing director, agency CMO trading and Kenneth Dinovo, senior vice president, agency CMO structuring and trading.
Also joining the firm are Daniel Farrell, senior managing director, structured products group; and Mark J. Castiglione, managing director, structured products group.
Beal, who will be specializing in secondary and new issue CMOs for Amherst, previously worked at Merrill Lynch for 12 years, where he traded CMOs with a focus on secondary and new issue fixed and derivatives.
Dinovo, who will be responsible for structuring and trading CMOs for Amherst, previously worked at Merrill Lynch in the agency CMO area, where he traded new issues, ran the new issue business and served as head structurer.
Farrell, the former founder of a venture capital firm, and Castiglione, a former hedge fund manager, will help develop Amherst's non-mortgage ABS and structured finance business.