Ramesh Singh, head of real estate and securitized (RE&S) products. is departing UBS to spend more time with his family and to subsequently pursue other career opportunities, according to an internal UBS memo. The firm also announced that its refocused real estate and securitization activities will be headed by managing directors Bill Chandler, Jack McCleary and Jim Reichek, who will report directly to Jerker Johansson, chairman and chief executive officer of UBS Investment Bank, and Jeff Mayer, the global co-head of the fixed income, currencies and commodities business. Bill Chandler becomes head of transaction management for the group. In this role, he will be responsible for the portfolio management of several existing securities programs and various other special situations. He will also be responsible for the transactions requiring pre-approval (TRPA) process within RE&S. Jim Reichek will continue in his role as U.S. head of real estate finance, with responsibility for all commercial loan origination in addition to all trading in CMBS; and Jack McCleary is named head of ABS and MBS trading activities. He will oversee the firm's client-facing businesses, which will include selective market making in non-agency securities, as well as portfolio analysis and restructuring services. In addition, passthrough trading will be integrated within the bank's rates trading desk in Stamford, reporting to David Sacco.
Laurie Goodman has joined the New York offices of Amherst Holdings as a senior managing director in charge of research, risk management and business development, effective Dec. 8. Goodman was most recently managing director and head of global fixed-income research at UBS. At UBS, she also ran the securitized products research group and wrote the Mortgage Strategist, a mortgage strategy research report. Goodman worked as head of the securitized products research group at Paine Webber prior to the UBS-Paine Webber merger. Before Paine Webber, she was vice president and head of MBS strategy at Merrill Lynch. Goodman has also worked at Eastbridge Capital, Goldman Sachs, Citicorp and the Federal Reserve Bank of New York. She has published more than 180 articles and co-authored five books on the mortgage industry. Amherst provides U.S. RMBS strategy and analytics services. Through a suite of operating companies, it also offers brokerage and consulting services to U.S. fixed-income investors, with an emphasis on residential mortgages and derivatives.