Despite UBS weekly report Mortgage Strategist stopping publication, as of Friday, Oct. 10, Head of Mortgage Strategy Laurie Goodman was still with the firm. But, source familiar with the situation said she likely will leave the Swiss banking giant which has, in recent months, dramatically reduced its presence in the mortgage debt market. Thomas Zimmerman, managing director and head of ABS and mortgage credit research at UBS, also forms part of Goodmans team and contributed to the Strategist. According to published reports, Goodman launched Mortgage Strategist while she was at Paine Webber in 1993. Before Paine Webber, Goodman also worked at Merrill Lynch, Eastbridge Capital and Goldman Sachs.
O'Melveny & Myers hired two transactions lawyers, Kenneth Yellen and Demetrios Xistris, in the firm's investment funds and securitization practice. Yellen joins the firm's Washington, DC, office as partner, and Xistris join the firm's New York office as senior counsel. Yellen and Xistris are the most recent additions to O'Melveny's rapidly growing finance practice area. The firm hired Neil Campbell, a structured finance partner in Hong Kong, earlier this year. Finance and restructuring partner Huey Yann Thong, who has securitization deal experience, joined O'Melveny's new Singapore office in August. Additionally, counsel Bronwen May focuses on derivatives in the Hong Kong office. Yellen's practice focuses on structured finance and securitization, and his experience includes the representation of issuers, underwriters, placement agents, collateral managers and other market participants in connection with CLOs, CDOs, derivative securities, repackaged securities and other structured financial products. Before joining O'Melveny, Yellen was a partner with McKee Nelson. Xistris spent 15 years as managing director at the prominent investment banks JPMorgan, BNP Paribas and, most recently, Societe Generale, heading the in-house legal teams advising the banks on all equity and equity derivatives activities, including structured products; hedge fund derivatives; corporate, monetization and hedging deals as well as various equity finance agreements and activities. He has significant experience with all other derivative asset classes and with master netting and trading agreements and collateral documentation, and he has worked on a number of derivative and financial products business line acquisitions.