Managing Director Paul Vambutas and Director James Murphy have left the student loan ABS group at Deustche Bank, the investment bank has confirmed. Sources told ASR that the duo is heading over to UBS.
A Deustche spokesperson said that the bank will name the replacements for both Vambutas, who headed up the student loan ABS group at Deustche, and Murphy in "due course."
The spokesperson added that the bank is currently looking for ABS banking and finance professionals to fill various positions.
Before Deustche, Vambutas was at PaineWebber's education loan group as an analyst. He was part of the group that moved over from Chemical Securities Corp. to PaineWebber. At Chemical Securities, he was the student loan group's primary quantitative analyst.
Vambutas and Murphy join the series of recent securitization-related departures from the bank. The list includes Greg Lippmann, Fred Brettschneider and Adam Cohen.
StructuredFinanceNews.com earlier reported that Deutsche named Pius Sprenger as head of trading for ABS and CDOs to replace Lippmann.
Published reports indicated that Lippmann is joining an investment firm being started by Brettschneider, who is also the investment bank's outgoing head of global markets in the Americas.
Brettschneider's departure and plans were announced internally in a Feb. 24 memo, published reports stated.
As of press time, UBS officials did not return phone calls for comment.