Moody's Investors Service has reorganized its structured finance group in New York by promoting one senior analyst to a managing director and delineating the teams covering the collateralized debt obligations market, according to Lisa Tibbitts, spokeswoman in New York. She added that the plan has been prompted by the rapidly growing CDO market. Bill May, a senior analyst, was promoted to managing director of the rating agency's derivatives team.
Isaac Effrat, one of three managers running Moody's CDO group, is now co-heading the derivatives team with May. Effrat is running the synthetic and structured notes part of the derivatives team. Gus Harris is now covering the cash flow CDO market and Jerry Gluck is covering resecuritization market value products. Both Harris and Gluck headed up the CDO group with Effrat prior to their new appointments. They all report to Noel Kirnon, group managing director for structured finance. Calls to the officials were directed to Tibbitts.