XL Capital Assurance has hired Iftikhar Hyder, a director in Barclays Capital's cash and synthetic collateralized debt obligation group in New York, as a managing director of credit. "I've been very happy at Barclays, but [XL] approached me and it's a very good opportunity," Hyder explained, noting he is moving up a notch to the managing director level. At XL he will report to Pat Mathis, senior managing director of credit in New York.
Mathis said Hyder will be responsible for wrapping the senior tranches of cash and synthetic CDOs on a global basis. The hire comes as the firm splits the asset-backed and CDO groups. Previously Catherine Lau had covered both but because of increased deal flow she will now focus on ABS, Mathis said.
At Barclays, Hyder reported to Eileen Murphy, managing director and head of the CDO group. Hyder has previously worked in the CDO rating group at Standard & Poor's.
