Laura Schwartz, senior managing director of ACA Capital and chief operating officer of ACA Management, responsible for the company's CDO asset management platform, has left the firm, according to market sources. Calls to Schwartz were not immediately returned, but her biography was taken down from the company's Web site. A spokesman for the company could not immediately confirm rumors about Schwartz's departure. Before ACA Capital, Schwartz was a director in the asset-backed finance group at Merrill Lynch. She was also a director in the global real estate finance group, responsible for origination of CMBS and RMBS outside of the U.S., primarily in Canada and Latin America. She began her career as a senior analyst in the commercial mortgage loan group at New York Life Insurance.
Guy Carpenter & Co., a risk and reinsurance specialist changed the name of its securities arm MMC Securities to GC Securities, in line with plans to expand its investment banking business in Europe, the company said. It appointed Christopher McGhee as its managing director in North America. In Europe, Mark Hewett will be managing director and oversee its operations there.