RAIT Securities, a subsidiary and broker-dealer for the RAIT Investment Trust, added two new “seasoned professionals” in its latest attempt to expand its institutional fixed-income sales and trading businesses.
Steven Lewis, a 25-year Wells Fargo Securities veteran, and Daniel Hill, a 27-year Merrill Lynch appointee, will both support the institutional sales and trading scheme thanks to their “broad institutional issuer and investor relationship” experience, a press release said.
"It's very exciting that market professionals of this caliber joined RAIT,” Scott Schaeffer, RAIT Financial Trust CEO said in the Dec. 21 release. “Their hiring demonstrates RAIT's dedication to providing our clients with excellent sales and trading services."
Prior to joining RAIT as a managing director and co-head of the firm’s Charlotte, N.C. office, Lewis served as similar role with Wells Fargo. He was a managing director for its structured products fixed-income sales group focused on real estate, asset-backed and CDO securities, the release said.
Separately, Hill was a producing manager of Merrill Lynch’s global money markets trading and marketing business. Previously, he served as head of commercial paper trading, head of bank & thrift and co-head of direct issuer commercial paper and ABCP trading, the statement stated.
Currently, the Philadelphia, Pa.-based financial trust manages a real estate portfolio and provides debt finance options to real estate industry and invests in real estate related assets. Its securities business, which focuses on the needs of its institutional clients, is run out of New York.