PEOPLE

Ambac Assurance Corp. has hired Todd Emmel as first vice president in the specialized finance division. Emmel will be originating and structuring transactions with commercial paper conduits. Previously, Emmel was chief credit officer of Structured Credit Partners.

Susanna Tisa was recently appointed vice president of capital markets and treasurer at Capital One Financial. Tisa joined the company in 1996, managing debt and securitization funding, investment portfolio, treasury operations and enhancing the company's relationships with fixed income investors and credit rating agencies.

Anthony P. Dolanski, executive vice president at Sallie Mae has decided to leave the company, effective February 29, 2000. Dolanski managed the Information Technology and Finance areas and will continue to serve as an advisor to the company in addition to serving on the board of directors.

Sovereign Bancorp. Inc. has hired James J. Calla to head its new capital markets group. Calla plans on building a team of 10-15 bankers to manage the securitizations of Sovereign and customer balance sheet assets, the derivatives and hedging capabilities for the company's commercial retail clients and the foreign exchange services for Sovereign's international banking clients. Prior to this appointment, Calla was the managing director of CoreStates Capital Markets Group.

CALENDAR

February 9-12 in Phoenix, AZ: Frank J. Fabozzi, Inc./InformationManagementNetwork present The Fifth Annual Summit On Asset Securitization 2000. For more information please call (212) 768-2800 ext 1.

February 13-16 in Scottsdale, AZ: Strategic Research Institute presents The 7th Annual Asset Securitization 2000 Symposium. For more information please call 1-800-599-4950.

February 24-25 in New York City: Frank J. Fabozzi, Inc/ InformationManagementNetwork present CBOs, CLOs, CDOs Forum 2000. For more information please call (212) 768-2800 ext 1.

Miscellaneous

Erie County, NY is preparing to securitize payments received from the national tobacco settlements. County executive Joel A. Giambra, who has not yet decided how the proceeds will be spent, has begun a tax cut program intended to spur growth in the region. This will enable the county to use the money from the securitization for economic development projects.

Continuing an effort to ramp up online origination, American Business Financial Services launched its business-to-business (B2B) e-commerce web site, abceasyloan.com, which targets the small business borrower.

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