Marsh Securities, a unit of insurance, risk management and consulting company Marsh & McLennan Companies, has hired Paul Scalfani, managing director, structured credit products at CDC Investment Management in New York. Scalfani joins in the new position of managing director, head of the structured solutions group in New York. Jamshid Ehsani, president and ceo of Marsh Securities, said Scalfani will be responsible for structuring and placing transactions. He added that Scalfani's clients will include corporates and financial institutions. Marsh Securities often uses listed and over-the-counter credit derivatives to structure transactions, such as CDOs, CLOs and CBOs, for clients.
Marsh Securities is building its financial solutions group, and Ehsani said Scalfani is a key addition to that group, as clients have been demanding more advanced risk management solutions that include derivatives. Ehsani added that the financial solutions group now numbers 100, and he said Marsh Securities plans to make additional hires, declining to provide further details on this point.
Scalfani, who started at Marsh Securities late last month, declined to comment. Officials at CDC did not return calls.
