Dan Castro has landed at hedge fund GSC Partners, where he will be a managing director and chief credit officer, reporting to Fred Horton, who started at GSC earlier this month. Castro, the longtime Merrill Lynch research strategist had been seeking employment since leaving Merrill last year. New York-based GSC, which specializes in control distressed debt investments, hired Horton to begin its investment activity specializing in structured credit, mortgage-related securities and ABS.
RBS Greenwich Capital has named managing directors George Davala and Ryan Mullaney as co-heads of MBS strategy, where they will assume management responsibility for the firm's MBS strategy team. As part of the move, Alec Crawford will assume responsibility for agency MBS strategy, Lisa Pendergast will continue to head CMBS strategy, working with Jason Hanna. Additionally, Linda Lowell will be leaving RBS Greenwich to pursue new opportunities.
John Keane was appointed as director of whole business securitization research at Barclay's Capital. Keane joins the team from Fitch Ratings where he headed the whole business securitization team. Keane will work under Phil Adams, head of Barclay's European securitization research team.
Ambac hired Sean Leonard as its new CFO, replacing Thomas Gandolfo, who will now oversee Ambac's investment and other capital market activities. Leonard joins from PricewaterhouseCoopers LLP, where he served as a partner in the firm's New York offices. Additionally, Executive Vice President John Uhlein will assume responsibility for commercial asset-backed securities and emerging markets, in addition to his current responsibilities which include consumer asset-backed securities, structured insurance and conduits.
Glenn Boyd has been hired by Barclays Capital as director and head of mortgage strategy reporting to Head of U.S. Fixed Income Strategy Bulent Baygun. Boyd, who will be responsible for building the mortgage research team at Barclays, was formerly a director in the mortgage strategy group at UBS, where he specialized in prepayments and had a five-year stint.
FGIC has hired Alessandra D'Imperio as a senior managing director and chief credit officer, with the responsibility of managing FGIC's underwriting risk management. D'Imperio had worked at Ambac, where she headed credit risk management for the public finance group and served on the credit committee.
RBS Greenwich Capital has hired David Cannon as managing director and head of CMO trading, responsible for the structuring and trading of both agency and non-agency product. Cannon joins from UBS where he held a similar position. RBS Greenwich also hired Cass Tokarski from UBS as a senior vice president on its CMO trading desk, reporting to Cannon.
SunTrust Robinson Humphrey has hired Hugh "Beau" Cummins as senior managing director and head of debt capital markets, where he will also serve as a member of SunTrust's corporate and investment banking executive committee and SunTrust Capital Markets' board of directors. Cummins joins from Bank of America Securities, where he served as head of debt capital markets and investment grade and liquid products origination. In his new role, he will be responsible for the primary and secondary fixed-income business, loan syndications, loan trading, debt private placements, foreign exchange and derivatives, securitization, structured leasing and debt capital markets origination.
RBS Greenwich Capital hired Michael Anthony to head its corporate risk solutions group, reporting to James Mather, head of North American interest rate derivatives, and John McCormick, global head of sales and marketing. Anthony joins from JPMorgan Securities, where he had been a managing director. Working closely with Anthony will be Jenny Goodman and Avi Kwalwasser, who also joined from JPMorgan, Joel Mittelstadt, who joined from Barclays Capital and Stella Stoyanova, who joined from Credit Suisse First Boston.
Deutsche Bank Securities hired Raj Sodhi as a director in its asset finance group within the global markets division. He will be responsible for arranging and structuring single-seller commercial paper programs. Sodhi is reporting to global head of asset finance Frank Byrne. Sodhi joins the firm from Bank of America where he was a principal in the global structured finance group, responsible for debt origination and structuring.
Mortgage strategist Paul Check has left Deutsche Bank Securities after roughly three years at the firm. There is no word yet as to where he is going. Prior to Deutsche Bank, Check was a research analyst at Putnam Investments where he was responsible for quantitative analysis for MBS and other structured assets.
Australian bank Macquarie Bank announced plans to set up its mortgage originating services in Italy. Macquarie Bank Italia will open offices in Milan and Rome within the next three months, with the business headquartered in Milan. Adrian Hill, former managing director of Abbey National Bank Italy, will lead Macquarie's Italian team.
Bear Stearns said it planned to acquire an ownership stake in U.K. based independent subprime mortgage broker Essex & Capital Mortgage Corp. In its new role, Essex & Capital will process residential loan packages from brokers or consumers and aggregate them for placement with lenders. Terms of the deal were not disclosed. Essex & Capital currently has a working relationship with one of Bear Stearns' Rooftop Mortgages subsidiary, through which Rooftop supplies Essex & Capital with loans.
Credit Suisse First Boston plans to expand its leveraged investments business to cover Europe. The bank is expected to set up a group in London that will manage portfolios of leveraged loans, mezzanine debt and high yield bonds. Glenn Clarke, formerly with AIB Capital Markets, has been appointed to head the expansion efforts. He will be based in London reporting to John Popp, global head of CSFB's leveraged investments group.
Nelnet, Inc. filed a universal shelf registration statement with the Securities and Exchange Commission, allowing it to potentially securitize up an additional $750 million in common stock, preferred stock or unsecured debt securities. No underwriters were named in the filing.
Mortgage insurer Triad Guaranty has promoted Pam Morrison to vice president, special projects. In her new role, Morrison will develop and implement new technological products, processes and services for Triad. Morrison continues reporting to Shirley Gaddy, senior vice president of operations.
Copyright 2005 Thomson Media Inc. All Rights Reserved.