Nomura Securities continued raiding Donaldson, Lufkin & Jenrette, having poached three fixed-income sales officials a mere week after it nabbed much of DLJ's repossessed loan desk.
Nomura hired John Kistler as managing director in mortgage-backed securities and structured product sales, having been one of DLJ's best salesmen in that field according to Nomura fixed-income head Alex Noujaim.
Nomura also hired Don McCabe as a director for its mortgage and whole-loan sales, as well as covering depository institutions. Two-year DLJ veteran Rolf Krenz also joined Nomura as a vice president and will be responsible for fixed-income sales.
The District of Columbia will securitize nearly $290 million bonds backed by the city's $1.68 billion share of the national tobacco settlement. Nixon Peabody, the newly appointed bond counsel, will work with eight underwriters to carry out the sale in February. Salomon Smith Barney and Morgan Stanley & Co. will act as senior managers on the transaction.