Citigroup appointed Bill Beckmann to create a new division for Citi's U.S. residential mortgage business. The new unit will include origination, servicing and capital markets securitization execution. Beckmann will still report to Carl Levinson, who now heads up the U.S. consumer lending group, and to Jamie Forese, who is co-CEO of markets and banking. In an internal memo, Citi said that setting up the U.S. mortgage businesses in this way will improve its overall effectiveness and allow the company to better serve the firm's existing clients while providing greater value to the firm's shareholders. In his new role, Beckmann is expected to work closely with Jeff Perlowitz, head of global securitized markets, in order to align Citi Residential Lending's origination and servicing functions with those of CitiMortgage. Mortgage origination activities of the firm's CitiFinancial, Citibank and Smith Barney branches will stay with those business entities, according to the same internal memo. Beckmann and Perlowitz will head up capital market analytics, risk management and execution across non-agency products. All other global securitized market businesses will continue to report solely to Perlowitz. Beckmann will also work closely with corporate treasury in terms of its overall portfolio, capital objectives and required return hurdles.

Mourant has expanded its international finance administration services into Ireland by opening a new office in Dublin. The new office will be headed up by Peter O'Leary, who previously worked with Mourant's Jersey-based team. O'Leary said that the structured finance market in Dublin continues to show significant growth and demands high-quality services to support the growing number of investment banks and lawyers involved in structuring this type of vehicle. "The combination of Dublin's position continually moving toward the forefront of capital market structures, coupled with increasing requests from our existing clients, has illustrated to us that the environment is favorable to set up a dedicated office in Ireland to deliver our highly regarded and high-quality SPV administration services," O'Leary said.

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