Dresdner Kleinwort Wasserstein has hired Darren Smith, a collateralized debt obligation structurer at UBS Warburg, as co-head of its CDO group in London. He starts in the new role next month and joins Jeremy Vice, who was head of the group. Vice said the hire comes as the firm expands its structured credit business. "There will definitely be more [CDO hires] to come, we are in the market looking," he said, declining further comment. Smith is between positions and could not be reached.
Smith will work on structuring cash and synthetic CDOs and report to Matteo Mazzocchi, global head of credit derivatives and securitization.
At Warburg, Smith reported to Peter Shorthouse, head of the CDO group in London, and Steve Skerrett, head of European asset-backed finance. Mazzocchi, Shorthouse and Skerrett did not return calls.