Six Degrees Capital Management has hired Bernhard Fischer as managing director, overseeing the firm's New York City office. Fischer has over a decade of both rating agency and buy-side investment experience in new asset and esoteric ABS. Prior to joining Six Degrees, Fischer served five years as a managing director with Greenwich, Conn.-based Partner Re's new solutions principal finance group where he coordinated the analytical process for primarily mezzanine level risk for non-standard asset-backed deals. Fisher also spent 11 years at Standard & Poor's, where he was most recently a director within the structured finance asset backed new assets group.

XLCA has three new high-level executives. Russell Albers has joined the monoline as a managing director responsible for commercial ABS transactions and reports to Steve Czark, head of commercial ABS. David Beard has joined as a managing director responsible for underwriting consumer ABS transactions and reports to Richard Heberton, Chief Credit Office of XLCA. Kenneth Cheng has joined as a director and will lead the firm's efforts in the commercial real estate CDO space and report to Sohail Rasul, head of CDOs. All three executives are located in XLCA's New York City office. Prior to joining XLCA, Albers was a senior vice president of ABS at Friedman Billings Ramsey, where he was responsible for the establishment and development of the firm's asset backed finance group. Beard joins XLCA from Financial Security Assurance where he was a director in the mortgage finance group, which underwrites securitizations of first and second lien residential mortgage loans as well as related structured financings. Meanwhile, Cheng comes to XLCA after ten years at Standard & Poor's. His last role at S&P was as a director and analytical manager in the CDO group, where, among other responsibilities, he created and updated ratings criteria.

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