The Carlyle Group has hired John Stomber, a former managing director in the structured finance group at Cerberus Capital Management, to build up its asset-backed and mortgage-backed securities products division within the fixed-income area. He may also be involved in creating platforms dealing in foreign exchange swaps. Stomber began working at the firm's New York office May 1. He is a managing director in the leveraged finance group and reports to James Hance, a senior advisor at Carlyle. Carlyle's leveraged finance group manages $5.5 billion in 12 high-yield, mezzanine and distressed funds in the U.S. and Europe.
"I have come in to expand Carlyle's fixed-income platform and various product classes that the firm is not involved in," said Stomber. He said that asset-backed and mortgage-backed securities are not entirely new products at the firm, but he will essentially be responsible for starting up the products division.
Stomber said he was approached by an intermediary to join the firm. He said it was a hard decision to leave Cerberus, which he joined in 2004, especially because the firm had just completed its acquisition of General Motors Acceptance Corp., a deal in which he said he had been a big part of. While at Cerberus, he was also part of the team that put in a bid during the auction for Refco.
Before joining Cerberus, Stomber was vice president and global treasurer of Merrill Lynch. Before that, he was a managing director at Deutsche Bank between 1991 and 1999. At Deutsche Bank, Stomber built and managed its North American fixed-income and foreign exchange swaps and derivatives business.