PrinceRidge Builds Up Structured Finance, CDOs Biz

PrinceRidge Group has launched a hiring initiative to build up the firm’s structured credit sales group.

  • 19 Aug 2010
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--Amelia Granger

PrinceRidge Group has launched a hiring initiative to build up the firm’s structured credit sales group. Armand Pastine, who joined the New York-based broker-dealer as a managing director three months ago, is leading the fixed-income expansion and will also run the collateralized debt obligation platform.

Pastine most recently headed fixed-income sales and trading at boutique investment bank Maxim Group. A group of about 20 fellow employees had reportedly followed him in the move. Pastine declined to comment and officials at PrinceRidge did not return calls. An official at Maxim Group had no comment on any plans to replace Pastine or the other team members.

The firm is seeking to expand distribution across residential mortgage-backed securities, commercial mortgage-backed securities, MBS derivatives, asset-backed securities, as well as collateralized debt and loan obligations.

PrinceRidge launched its hiring initiative a little over a week ago, and has already gotten several responses, according to market officials. The number of people PrinceRidge is looking to add could not immediately be learned, but hiring is expected to pick up in the fall.

  • 19 Aug 2010

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 74,266.46 209 13.33%
2 Bank of America Merrill Lynch 64,298.92 202 11.54%
3 Wells Fargo Securities 55,583.74 178 9.98%
4 JPMorgan 40,447.01 140 7.26%
5 Credit Suisse 30,239.23 97 5.43%