Linda L. Lowell has left Credit Suisse First Boston as its director of mortgage-backed securities research. Lowell has joined Greenwich Capital Markets, Inc. in an attempt to help the company boost its ABS and MBS research capabilities. She will be reporting to Anthony Schepis, who is the head of ABS and MBS sales at Greenwich.
Credit Suisse First Boston has hired two industry experts, boosting its MBS and ABS teams. Rod Dubitsky, was hired as CSFB's mortgage-related ABS strategist. Formerly a home-equity analyst, Dubitsky was with Moody's Investors Service. The other addition is Kumar Neelakantan, a former mortgage analyst at PaineWebber Inc. Neelakantan will work as a mortgage researcher and asset-backed analyst at CSFB.
Chase Manhattan Corp. has added Adrian Hyde, previously of J.P. Morgan and Richard Kennaugh, previously of Credit Suisse First Boston to its credit derivatives group. Hyde and Kennaugh are both co-heads of derivatives trading.
Moody's Investors Service hired Rodrigo Araya as a vice president and senior analyst in the structured derivatives group, which is responsible for rating insurance-linked securitizations, including catastrophe bonds.
In a case of the European high-yield market bulking its collateralized bond obligations (CBO) with U.S. assets, European specialty-purpose entity, Robeco Group, issued a $300 million CBO transaction with a portfolio that consisted largely of U.S. collateral.
The multi-tranched deal, dubbed Robeco CBO I Ltd., is expected to be rated by Standard and Poors Ratings Service.
Being so telecom-intensive, the European high-yield market faces industry concentration issues that will likely spawn further CBOs backed by a mixture of European and U.S. high-yield assets, analysts are saying (ASR 4/17/00).
The first Euro-backed CBO hit the U.S. market sometime last year.