Kensington Mortgages, a London-based sub-prime lender that issued its 21st bond backed by residential mortgages in October, has hired a new finance director and treasurer. Mark Wilten, executive director in securitization at Rabobank International in London, has taken over as group treasurer, and Steve Colsell, U.K. finance director at Zurich Financial Services in Swindon, England, has assumed the finance reins.
At Rabobank, Wilten reported to Alan Cameron, European head of securitization in London. Wilten was at Rabobank for only a few months (BW 5/31), before which he spent more than six years in the asset securitization and principal finance group at WestLB in London. Wilten was responsible for initiating the banking relationship with Kensington while at WestLB. Cameron declined comment.
As for Kensington, Wilten replaces Chris Marks, who joined Kensington about a year and a half ago from Barclays Capital and has now returned to the British securities firm. Marks, who said he left Kensington because he wanted to get back into banking, returns to Barclays as a director in the financial institutions securitization group. He is responsible for U.K. and European residential mortgage-backed securities origination and execution and reports to Allen Appen, managing director and head of financial institutions group securitization.