Bear Stearns boosts MBS, CMBS research — plus Deutsche, ING Barings news

Bear Stearns has recruited two mortgage analysts to join its financial analytics and structured transactions (Fast) department in New York.

  • 03 Aug 2001
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Abrahams and Peter Rubenstein will work at managing director level in the mortgage research group led by senior managing director Dale Westhoff.

Abrahams leaves Morgan Stanley, where he led the residential research group. Before that he worked at Freddie Mac as a director in the single family mortgage portfolio division. He will oversee agency structured product research.

Rubenstein is a real estate specialist who most recently worked as head of ABS research at Prudential Securities. His brief is to direct commercial mortgage research.

"Peter's strengths are more on the credit side," Westhoff told EuroWeek. "He has worked on a wide assortment of different mortgage products, which will help with CMBS." Rubenstein joins to replace a CMBS analyst, but Abrahams' position is new.

"Both are very experienced veterans," said Westhoff. "They bring to the table good industry recognition and good customer following."

There are now six senior analysts in the Fast mortage research team. "Mortgage backed securities have always been a strength at Bear Stearns," said Westhoff.

The Fast group supports all fixed income areas at Bear Stearns, mainly providing technology, portfolio analysis and research. The department is based in New York, but provides coverage of the European sector, and has one Fast analyst working in London.

The equities business of Deutsche Bank in Asia has announced more hires this week, continuing its swift expansion under Ed Peter.

Eddy Kuo becomes head of Taiwan equities and director of Asian equities sales for global equities. He will build up a team in Taipei and focus on cash equities.

Previously, Kuo worked for Robert Fleming Securities in London, specialising in Taiwan and South Korea equity sales.

Kuo's appointment reflects the new coverage by country that Peter has initiated (see EuroWeek 711). Deutsche recently secured a broking licence in Taipei.

Punit Khanna has started work as a director of Asian equities sales for global equities, reporting to Jeffrey Chung, head of Asian general sales. He has moved to Hong Kong from Singapore where he worked for Goldman Sachs, managing country products for institutional clients.

The global equities team in Hong Kong is led by Peter, who is head of equities for Asia Pacific outside Japan. The director of equities titles for Khanna and Kuo are relatively senior sales executive positions.

ING Barings hopes that its new head of equity trading in Asia, Alan Kanuk, will speed up its delivery and execution of equity products.

Kanuk, who is also named deputy head of equity markets, Asia, replaces Warren Primhak, who left in April to join Deutsche Bank as head of cash trading, Asia Pacific.

He has already joined ING's office and reports to Eugene Marais, head of equity markets, Asia, and Anthony Baker, head of equity trading and derivatives.

The move brings Kanuk back to banking after a two year absence. In 1999 he left Bear Stearns, where he led the Asia equity group in Hong Kong, to found and run the Asian electronic trading system, ARKaccess.

According to Sheel Kohli, head of corporate communications for ING Barings Asia, the emphasis at ARKaccess on fast seamless trading is something that Kanuk will hope to introduce at ING. "Clients look for speed in delivery and execution," he told EuroWeek. "Alan comes to ING Barings bringing those skills with him."

Kanuk will manage the trading and execution of a range of equity products, including convertible bonds, cash equities, and Global Depositary Receipts. Before moving to Hong Kong in 1995, he was a senior equities trader at Bear Stearns in New York.

ING Barings Asia has stock exchange seats in 10 Asian markets, including Japan, but not Australia.

Kohli was upbeat about ING's recent losses of equity staff, notably to Deutsche Bank. "It creates an opportunity to renew operations," he said, adding that all those who left will be replaced.

  • 03 Aug 2001

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 329,208.56 1277 8.09%
2 JPMorgan 321,584.64 1392 7.90%
3 Bank of America Merrill Lynch 296,878.25 1014 7.29%
4 Barclays 249,463.73 926 6.13%
5 Goldman Sachs 218,838.41 733 5.38%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 46,136.68 182 7.00%
2 JPMorgan 44,545.29 93 6.76%
3 UniCredit 35,639.50 153 5.41%
4 Credit Agricole CIB 33,211.72 160 5.04%
5 SG Corporate & Investment Banking 32,419.80 126 4.92%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 13,755.50 61 8.94%
2 Goldman Sachs 13,469.15 66 8.76%
3 Citi 9,716.40 55 6.32%
4 Morgan Stanley 8,471.86 53 5.51%
5 UBS 8,248.12 34 5.36%