Countrywide Securities has moved Jim Griffin from mortgage analyst to the position of secondary trader in its asset-backed securities and mortgages desk. Jeff Staab, senior v.p. of home loan trading, says Griffin will report to both Staab and Kevin Doyle, senior v.p. ABS trading. Prior to his promotion, Griffin reported to Anand Bhattacharya, head of fixed-income research, says Staab.
Staab adds that the position is newly created due to the growth of the ABS business at the firm, and that he does not rule out hiring traders from other firms, as well. He declined to elaborate further on potential hires. It could not be determined who would replace Griffin in the research department.
Based in Calabasas, Calif., Countrywide ranks 15th in the ABS underwriting league tables, specializing in mortgage securitization.