CMBS veteran Ron Wechsler, formerly of GMAC Commercial Mortgage and PaineWebber, will be taking over Salomon Smith Barney's conduit business starting next week. Joe Franzetti, who had been in charge of the conduit, will be spearheading a new large-loan group at SSB along with Daniel LePage, Rick Schlenger, John Cavanagh, Michael Fallin and Michael Danberg. The large-loan unit will focus on dealing with loans that can be securitized on a standalone or fusion format. "We never focused on this in a major way, so now we are focusing our resources on this to add to an incredible platform in terms of customer needs and the strength of the investment bank," Franzetti said. Before joining GMAC Commercial Mortgage as senior vice president last December, Wechsler headed PaineWebber's conduit group for four years, but was laid off along with several others shortly after UBS Warburg bought the firm. Prior to that, Wechsler spent seven years at Fitch, where he was the head of the CMBS group.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.