Juliet Jones, a senior ABS analyst at Barclays Capital, is moving from the bank's securitization research group to portfolio management. Beginning Wednesday, Jones will manage Barclays Capital's multibillion-dollar ABS portfolio. She will report to John Porter, the bank's London-based managing director of portfolio management. For the last seven years, Jones was a senior analyst in Barclays' securitization research group, where she specialized in the U.S. consumer ABS assets, including credit cards, student loans and auto loans. Previously, she was an analyst in Standard & Poor's structured finance group, where she worked for seven years.
Bank of Tokyo-Mitsubishi UFJ is planning to launch an ABS trading platform by the first quarter of 2007. The bank is negotiating with several monoline insurers to buy wrapped paper to stock its startup ABS trading portfolio, and hopes to build the business into a $30 billion enterprise in about two years. To spearhead the new effort, Bank of Tokyo-Mitsubishi hired Martin Palmeri as senior vice president of structured credit and Sal Carvo as vice president and manager of its credit portfolio. Palmeri was a director at Dresdner Kleinwort Wasserstein, where he also worked in structured credit. He was also formerly at Ace Financial Services. Carvo, a former managing director at Athilon Structured Investment Advisors, was recruited last month. Previously, Carvo was a director at XL Capital Assurance. He also worked at MBIA. The bank expects to hire about two analysts in the coming months.