ABN AMRO has lost two senior structured capital markets staffers following the department's merger with the securitization group. Apea Koranteng, global head of structured capital markets and a heavyweight hire from Standard & Poor's only last year (DW, 4/25) has departed, as has John McCarthy, global head of structured capital, after a brief tenure in London following transfer from the U.S. last year (DW, 3/29). The departures follow the naming of Selwyn Rayzor, global head of asset securitization, as head of the combined structured capital and asset securitization teams. Market officials said Rayzor's asset securitization desk is a cash cow for ABN and she is seen as a huge talent at the Dutch firm.
Steven Blaney, spokesman for ABN AMRO in London, confirmed the restructure. The merger is an attempt to draw greater value from the business by integrating talent pools. He did not know when the changes took effect. Rayzor is on maternity leave and could not be reached. Koranteng and McCarthy did not return messages. Both Koranteng and McCarthy reported to Mike Nawas, global head of fixed income capital markets and interim head of asset securitization. Nawas circulated an internal memo last week informing staff of the overhaul. He referred calls to the press office.
Koranteng's role was a new position for the bank when he joined last year, with responsibility for both structured lending and tailoring investment products. When he joined, several officials wondered how hard he might find the switch from a rating agency to a more politically driven firm. McCarthy had also joined the London office for a new role, which included responsibility for principal finance. Also last spring, in a move which may have precipitated the recent merger, Fernando Guerrero lost his role as global head of CDOs, ceding the position to Rayzor. Guerrero's current position could not be determined by press time.