RBS Greenwich Capital's Peter DiMartino, managing director of ABS and MBS research, is bound for the research team at Bear Stearns, according to market sources. Neither investment bank would confirm these plans, but sources familiar with the situation say that DiMartino left to take a so-called gardening leave around June 14. The longtime asset- and mortgage-backed analyst worked at Salomon Smith Barney for 14 years, where he was director of asset-backed and mortgage credit. As word of DiMartino's departure circulated, so did questions about how his arrival might affect the research team at Bear Stearns, where prominent analyst Gyan Sinha is a senior managing director of ABS, MBS and CDO research. At press time, DiMartino's start date at Bear Stearns was unclear.
Deutsche Bank Securities recruited Peter Stein as a director in its RMBS group, where he will focus on agency CMO trading. Based in New York, Stein reports to John Critelli, head of CMO trading in North America. Previously, Stein was a managing director of CMO trading at Bear Stearns.