Andrea Bryan, former head of structured finance at Standard & Poor's in Tokyo, has moved to New York to take on responsibility for the ratings agency's synthetic collateralized debt obligation activities in the region. David Tesher, managing director in New York, has been responsible for both cash and synthetic CDOs for the past year since Nik Khakee, who used to head synthetic structures, moved to a role focusing on criteria, explained an official. Richard Gugliada, head of the global CDO group in New York, said the growth in the synthetic market and the fact that cash and synthetic CDOs are increasingly structured separately pushed the firm to establish dedicated roles.
Tesher now focuses on the cash and market value transactions. Yu-Tsung Chang, managing director in Japan, will assume most of Bryan's responsibilities, according to another official. Chang was traveling and could not be reached.
