GMAC-RFC Securities has hired Robert Cole as managing director, head of trading, and appointed John Glessner as senior trader in MBS. Both Cole and Glessner were most recently with Friedman, Billings, Ramsey in Arlington, Va., where Cole was senior managing director and head trader for fixed income sales and trading. His responsibilities included developing and managing the trading team within the firm. Meanwhile, Glessner was also a managing director and senior trader who was responsible for building and managing agency ARM and CMO trading. GMAC-RFC Securities expects that recent additions will increase its competitiveness in the RMBS sector.
Deutsche Bank has announced the appointments of Kevin Flaherty as European head of syndicate for ABS and Greg Branch as senior ABS trader in Europe, in addition to his current role as senior CDO trader. Both men will report to Greg Lippmann, who was just appointed global head of ABS trading and syndicate (ASR, 06/12/06).