Banc of America Securities has hired G. Whitfield McDowell and Martin D. Essenburg to head global asset securitization operation. McDowell, who has managed the asset securitization group at NationsBank since 1987, will handle the domestic businesses, while Essenburg, previously managing BankAmerica's private asset-backed finance efforts, will head the international operation.
Mathew J. Pechinski has been named Senior Vice President of Westwood Capital LLC. Pechinski was formally with Skadden, Arps, Slate, Meagher & Flom LLP.
John Mullins has left Daiwa Securities to join ING Barings as regional head of ABS for Asia. Mullins will report to Ken Cox, head of global securitization at ING, and will be based out of Tokyo.
Aeltus Investment Management Inc. portfolio managers Christie Bull and Hugh Whelan have left the company's fixed income department to manage portfolios in Aeltus' large cap growth and core equity departments, respectively. No word on who will replace them. Of Aeltus' $35 billion in fixed income investments, approximately $700 million is in asset-backeds.
Michael Rosborough, former head of emerging markets at Pacific Investment Management Co. will now head the asset-backed securities group. Rosborough will report to Bill Powers, co-head of Pacific's mortgage group. Pacific manages $171 billion in assets.