Cecile Houlot joined Morgan Stanley as managing director and head of its European securitization effort within the global structured solutions group.
The new hire, who is based in London, will report to David Moffitt, global head of structured solutions in New York and who was hired by the bank last November to spearhead its securitization business.
She will also report locally into Claus Skrumsager, head of European fixed income capital markets (FICM) and Shyam Parekh, head of European financial institutions group (FIG) capital markets.
She will be responsible for all primary and secondary securitizations within EMEA and will advise
institutional clients on as well as help develop ABS finance solutions and related hedging strategies.
She joined Morgan Stanley after having spent 14 years at JPMorgan, most recently as managing director and Northern European head of structured finance derivatives.
At JPMorgan, she originated financing and derivative deals associated with securitizations, covered bonds, structured financing and repo business. Houlot was also responsible for building JPMorgan’s residential mortgages principal business as well as covering Northern European FIG securitization.
Houlot is the seventh managing director to join Morgan Stanley’s FICM franchise in 2010. Other managing directors that have been hired recently include: Michele Bareggi, in Italian fixed income capital markets; Petri Kivinen in the European emerging markets FICM business; Jim Yu in leveraged finance/high-yield; Chris Halliday in foreign exchange solutions; Vinay Jayaram,
an internal recruit from Asia to head up the European FIG FICM group; and Paul Bartlett, appointed at the start of the year from Goldman Sachs to spearhead the European emerging markets FICM effort.
“Cecile’s experience building securitisation platforms as well as originating and executing transactions across fixed income markets will be invaluable as we build our structured solutions platform,” said Claus Skrumsager, head of European FICM.
“Cecile's hire will further our existing cross-product FIG Solutions capability, allowing us to address the needs of financial institutions holistically across the balance sheet, from equity raising to hybrid debt to funding and finally to asset solutions,” said Shyam Parekh, head of European FIG capital markets.