Tom Wickwire, global head of structured products and head of the principal financing group at Wachovia Securities, will be leaving the firm within two weeks. Wickwire's responsibilities will be taken up by several individuals but primarily by John Bresnan, chief capital officer in the company's fixed-income division. There is no word yet on where Wickwire is headed. After Wickwire's departure, Bresnan will have oversight of structuring, which includes retained risk, principal investment and hedging activities, although not the real-estate division. The real-estate-related businesses are currently headed by head of retirement and investment products Bob Reid, who was appointed to manage these businesses about two months ago in a newly created position. Both Bresnan and Reid report to Ben Williams, head of global markets and investment banking.
Assured Guaranty Corp. appointed Christopher Mortello to managing director of structured finance surveillance, overseeing the company's ABS and RMBS portfolios. Mortello, who previously spent more than 10 years at Assured underwriting structured finance transactions, has returned to the bond insurer and will now be focusing on portfolio surveillance, remediation and reporting for the structured finance portfolio. Mortello reports to Andrew Pickering, chief surveillance officer. Most recently, Mortello was head of ABS at PMI Guaranty Co. and was responsible for developing, structuring and analyzing structured finance transactions for financial guaranty insurance, credit default swaps and reinsurance.