Wells Fargo Securities has expanded its RMBS platform. The RMBS group now offers a full suite of advisory, structuring, research, distribution and trading services to the firm's residential origination and investing clients and to Wells Fargo Home Mortgage (WFHM).
The group has added a number of key hires to oversee the business. The firm appointed
Mike Buttner as RMBS head. Buttner has been with Wells for 19 years and was most recently responsible for managing the hedging activities of WFHM's servicing rights and pipeline/warehouse assets.
Buttner reports jointly to Tim Mullins, head of fxed icome trading and Julie Caperton, head of ABS finance and securitization, which fall under the securities and investment group.
Reporting to Buttner are Doug Lucas, head of residential mortgage trading, and Dash Robinson, head of residential mortgage finance structuring and lending. Lucas has over 20 years of experience managing residential risk and most recently ran structured products trading in London for Bear Stearns, where his team set up a mortgage company in Europe. Robinson was formerly responsible for the execution, surveillance and restructuring oversight of Wells' structured finance deals.
"Adding seasoned market professionals with deep residential experience has enabled us to quickly expand our RMBS platform," Caperton said. "We are now able to offer a full suite of origination and distribution services to our clients."
"Wells Fargo?s dominance in mortgage origination combined with strong Investor demand for all types of residential product made this an obvious area to expand within Wells Fargo Securities," Mullins said. "We are excited to have the in-house capabilities in place to offer these services to our mortgage company in addition to our external originating and investing clients."