After a wild ride throughout the tremulous asset-backed job market, Norman Last has arrived at the New York office of Scotia Capital, joining as a director in the firm's asset-backed commercial paper group.

Last was most recently at Thomson Financial BankWatch, heading up the group's ABS effort, until late October when Thomson announced it would sell TFBW to Fitch. Prior to that, Last had been head of Duff & Phelps Credit Ratings Co.'s ABS effort since 1995, up until Fitch announced it would buy DCR last winter.

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