Goldman Sachs is losing two of its top securitization executives - Joe Marconi, the co-head of the ABS finance group, and Eric Bothwell, the co-head of the CDO/CLO group. Market sources said it appears that Goldman will not hand those titles to anyone else. Their two fellow co-heads remain - Curtis Probst for ABS and Peter Ostrem for CDOs and CLOs. It appears both will become group heads instead of sharing the leadership role with others. However, the securitization team is reportedly growing, and Goldman is believed to be in the market for additional hires. It was unclear at press time where Marconi and Bothwell might be headed.
Mortgage real estate investment trust Aames Investment Corp.'s President and COO John Vella has resigned. Michael Matthews and James Fullen will assume Vella's responsibilities. Matthews, currently executive vice president of national retail sales and marketing, has been promoted to chief production officer and will be responsible for all sales and marketing efforts for the retail and wholesale channels. Fullen, currently senior vice president and head of retail operations and settlement services, has been promoted to executive vice president - chief operations officer for retail and wholesale, with responsibility for the operational processes of the retail and wholesale channels.