Credit Suisse Asset Management is bulking up in structured finance, tapping Phil Wubbena as an asset-backed securities portfolio manager and Richard Avidon as a commercial mortgage-backed securities product specialist. Both report to Kevin Barry, head of U.S. core and core-plus fixed income, as well as mortgage-backed securities, Wubbena said. Barry did not return a phone call by press time.
Wubbena was previously a mortgage credit manager at ACA Capital and reported to Laura Schwartz, head of proprietary collateralized debt obligations. "I wanted to pursue the opportunity to learn something different," Wubbena said of his decision to switch from being an asset/liability manager to a total return manager. Avidon was a CMBS researcher at Alliance Capital Management and reported to Mark Gordon, head of structured research, Avidon said. He declined comment on why he left. Gordon did not return a phone call by press time.