Nelson Soares, a longtime managing director at Lehman Brothers who led its U.S. securitization group has left the company. Soares was also active with the American Securitization Forum and was elected treasurer in a term that expires in 2010. In conjunction with his departure from Lehman, Soares resigned from his position as ASF treasurer.
After 17 years with the commercial real estate finance team at Moody's Investors Service, Managing Director Tad Philipp has decided to take early retirement. His last full week at Moody's will be this week, "although I plan to stay actively engaged for several more months on a part-time basis to facilitate the transition," Philipp said in a statement. "It's been fun helping build the CMBS industry from the ground up, but I am looking forward to taking a break after my long run with Moody's. I am very proud of Moody's CREF team, and I am confident they are up to the task of managing through these challenging market conditions. Of all this team's accomplishments, I am especially proud that we were the first movers on declining credit quality." Philipp said that after a break, he plans to explore opportunities in the CRE sector. "Thank you for your support over the years, and I hope to stay in touch," he said.