LatAm ABS professional Erick Hernandez has been hired by Miami-based Alsis Funds as a vice president. The equity fund focuses on Latin American ABS, in particular residential mortgages (performing and non-performing), auto loans and personal loans. Alsis manages the Alsis Latin America Fund, which has $52 million of LP equity from global institutional investors, in addition to $100 million in preferred equity from the U.S. government's Overseas Private Investment Corp. The fund is looking to raise an additional $100 million. Hernandez had been at Standard Bank until December of last year. Prior to Standard, he was at Deutsche Bank's Mexican office in the securitized group.
Market reports have indicated that seven London partners at Cadwalader Wickersham & Taft have left the firm for Paul Hastings. The partners leaving the firm are Karl Clowry, Conor Downey, Michelle Duncan, Justin Jowitt, Tom O'Riordan, Christian Parker and Charles Roberts. A source familiar with the situation said that Cadwalader's London office, which has also been hit by falling revenues, might opt to shut down operations at its Strand location.