Ravi Joseph, managing director at Goldman Sachs in London and a veteran of the European securitization markets, has left the firm after joining from Morgan Stanley less than one year ago. The brevity of his tenure as co-head of the structured product group alongside Bill Young has surprised some market participants.
At Morgan Stanley, Joseph headed up the securitization group responsible for the prolific European Loan Conduit (ELoC), which has issued 19 commercial mortgage-backed deals. Securitization professionals say Goldman has not executed a CMBS deal in the past year since hiring Joseph.
Joseph could not be reached for comment. Young was on vacation, as were Joseph's bosses, Addy Loudiadis andMatthew Westerman, co-heads of the financing group.
Rebecca Nelson, spokeswoman at Goldman, said Joseph had a broad remit beyond CMBS and noted, "The structured products group is very profitable." She declined to name asset- or mortgage-backed deals the firm has executed in the last 12 months under his watch.
Goldman has recently lost other members of its CMBS team. John Barakat, managing director and head of European commercial mortgage-backed securitization and property finance, exited earlier this year. And Nigel Das, a v.p. in CMBS, recently left for Eurohypo (BW, 3/14).
