Merrill Lynch has hired veteran ABS banker Bill Heskett as a managing director in its non-real estate ABS group, reporting to Managing Director Ted Breck. Heskett moved over from the Chicago office of Banc of America Securities, where he focused on auto ABS for more than 10 years. In his new position, he will focus on a wide array of consumer assets.
Banc of America Securities will be moving its ABS trading operations to the bank's West 57th street office in Manhattan this month. Moving to New York will be Global Head of Securities Trading Chris Hentemann, Rob Karr and Pat Beranek. Charlene Balfour will move over from BofA's sales effort to work on the New York syndicate desk. Mortgage-backed, CMBS and CDO trading will operate out of both the New York and Charlotte offices. ABS origination and banking will remain in Charlotte.