Bear Stearns Grows Commercial Asset Finance

Bear Stearns in London has hired three managing directors to bulk up the commercial side of its principal and asset-backed finance team headed by Andy Clapham.

  • 04 Feb 2005
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Bear Stearns in London has hired three managing directors to bulk up the commercial side of its principal and asset-backed finance team headed by Andy Clapham.

Adam Toft, who was a senior v.p. at Moody's Investors Service in London, starts at the end of the month as a managing director, focusing on commercial mortgage-backed securitization.

The other two hires are Peter McAnally and Marie Fernandez, who were both in the European real estate group at Halifax Bank of Scotland in London. They recently joined as managing directors, focusing on Euro-denominated commercial real estate loan origination on the Continent.

Clapham said neither McAnally nor Fernandez is a direct replacement for anyone who has left the team, adding the 40-strong group is robust and growing. He declined comment on Toft's hire.

While Bear Stearns has not yet executed a CMBS transaction, Clapham said, "We've built up a healthy loan balance in our commercial portfolio with quality collateral, and are likely to do two transactions this year." He noted the team might opt for either CMBS or a whole loan sale using collateral from Principal Real Estate Finance Corporation (PREFCO), Bear's commercial lending company, which was set up in 2003.

At Moody's, Toft built up eight years of experience in CMBS in both London and New York and reported to Detlef Scholz, Frankfurt-based managing director in European structured finance. Anna Passey, spokeswoman in London, declined comment on behalf of Moody's.

At HBOS, McAnally and Fernandez reported to Douglas Smallwood, managing director and head of Europe for HBOS Corporate until last summer. Smallwood has left HBOS and could not be reached.

  • 04 Feb 2005

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 82,406.77 239 12.85%
2 Bank of America Merrill Lynch 71,317.58 219 11.12%
3 Wells Fargo Securities 62,984.09 198 9.82%
4 JPMorgan 45,920.23 145 7.16%
5 Credit Suisse 37,235.50 114 5.81%