The FSA expects to wrap at least two securitizations in Mexico's domestic market this year, according to Eduardo Ramos, managing director of Latin America at Euromoney's Fifth Annual Securitization in Latin America Summit held in Miami last week. While they will probably be in the mortgage sector, the monoline insurer is looking at other asset classes as well like consumer loans, auto loans, infrastructure and state. Ramos has been running the FSA's Latin American effort for the last five months. Legislation regulating monoline insurers was just passed in Mexico, and the market awaits regulation for implementing that law, which should happen this year. Until the regulations are in place, monoline insurers will need to continue getting regulatory approval on a case-by-case basis.
Cantor Fitzgerald has added two managing directors to its debt capital markets group. Jack Nealon, formerly director of fixed income sales at Deutsche Bank, will be based in Dallas, reporting to Scott Golden, managing director and co-manager of MBS in New York. Meanwhile, Hogan will be based in Ponte Vedra Beach, Fla. and will report to Larry Haag, managing director and head of credit sales in New York. Hogan was previously a director of fixed income sales at Baird & Co. He held similar positions at firms like JPMorgan and BNP Paribas.