Neil McPherson has left his position as managing director and senior strategist, group head of ABS research at Credit Suisse First Boston, to head the ABS syndicate desk at ABN AMRO. Taking over McPherson's responsibilities will be Director Rod Dubitsky, who joined the firm in 2000 from Moody's Investors Service. McPherson had been with CSFB for 12 years, working in ABS sales before joining the research group in 1999 and taking over in mid-2000.
Deutsche Bank Securities has hired Neil Ahuja as managing director and head of the MBS group, responsible for agency and private label CMOs, hybrid ARMs and mortgage derivatives. He reports to Phil Weingord, head of Global Markets for the Americas. Also, DBSI hired John Roach who joins as a MD and head of mortgage derivative trading, reporting to Ahuja. Both join the firm from RBS Greenwich Capital.
Additionally, Deutsche Bank Securities had named managing directors Michael Raynes and Mark Stainton to head a new team focusing on both primary and secondary CDO product. The new group consolidates the operations of the groups repackaging investment grade corporate, ABS, emerging market and high-yield bonds, as well as leveraged loans and all cash and synthetic CDOs. The new team will operate within the credit trading and securitization division. Raynes continues reporting to Rajeev Misra, head of credit derivatives, while Stainton reports jointly to Boaz Weinstein, head of integrated trading for North America, and Antonio di Flumeri, head of non emerging market credit derivative trading.
RBS Greenwich Capital recently hired Jonathan Gottlieb and Andrew Kwok, as managing directors and associate general counsels in its legal and compliance department. Gottlieb will provide legal and regulatory support across the firm's business units, with particular emphasis on the recently launched credit-markets group, while Kwok will focus on credit derivatives, CDO, and other structured-credit products businesses.
Ginnie Mae named Michael Frenz as its new executive vice president and chief operating officer. Frenz assumes this new role after serving as Ginnie Mae's vice president of capital markets for the past two years.
Former Under Secretary of the U.S. Treasury Peter Fisher, a managing director at BlackRock Capital, will receive The Bond Market Association's distinguished service award for 2004. Fisher will be presented with his award at TBMA's annual awards dinner on Oct. 20, at the Marriott Marquis Hotel in Manhattan.
Dewey Ballantine has hired new partner Luca Minoli in its Milan office focusing on structured finance, project finance and corporate finance, including cross-border transactions and M&A. Minoli reports to Sanford Morhouse.
RBS Greenwich Capital recently moved Shrikant Ramamurthy to the newly created position of product manager for Asian markets, working out of its Greenwich, Conn., office. Ramamurthy, who joined RBS Greenwich in 2001, had been co-head of Agency trading. In his new role, Ramamurthy reports jointly to George Davala, head of ABS sales, and Rob Roberto, head of liquid product sales.
HSBC announced the hiring of Graham Copley as head of Americas research in New York, reporting to Robert Vaudry and Stephen King, global head of research, economics and strategy. Copley was most recently a senior analyst at Sanford C Bernstein & Co., focusing on commodity chemicals and prior to that worked at a chemical industry consultancy.
MCG Capital Corp. completed a $397 million term commercial loan securitization in the Rule 144A market via UBS as lead manager. Proceeds from the series 2004-1 transaction will be used to pay down the secured revolving facilities the issuer has with UBS and Wachovia Bank, N.A. The $250.5 million triple-A rated senior class, with a 1.95-year average life, priced at 43 basis points over one-month Libor, $31.5 million of 3.78-year double-A rated A2 paper priced at 65 basis points over Libor and the $43.5 million of single-A rated B notes priced at 130 basis points over Libor.
WestLB has won the mandate for Invesco's first high-grade CDO, totaling approximately $1 billion. The bank's CDO structuring team has executed similar deals for its own asset manager as well as third party managers. This transaction is one of three West LB lead mandates scheduled to close between now and the end of the fourth quarter of this year.
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