HSBC has hired ABS veteran Mike Normile as a managing director to head its U.S. term origination group, a move in the works for months. Normile, who will report to Managing Director and securitization chief Jon Bottorff, left his post as head of European securitization at Merrill Lynch early last year.
The asset finance group at RBC Dain Rauscher has jumped to rival Bank of Montreal, sources confirmed. The six-person team, led by Managing Director Tom Gervais resigned this week and it is unclear when the group would resurface in their new positions. Joining Gervais are Matthew DiCicco, David Piotrowski, Mark Freeman, Jack MacDowell Jr., and Jason Micheletto. The group has a primary focus on the equipment lease sector.