Citigroup in London has hired Birgit Specht, global head of securitization research at Dresdner Kleinwort Wasserstein in London, as head of European asset-backed strategy. She starts in October and will report to Richard Pagan and Francis Glenister, joint heads of the fixed income research group, and to Lakhbir Hayre, global head of securitization strategy in New York.
Pagan said the bank plans more hires in ABS research, but would not confirm that Sophia Kauntze, a research analyst at DrKW who is currently on sabbatical, has been brought on board together with Specht. Meanwhile Stephanie Ziar, v.p. in European asset-backed strategy at Citi, is on a leave of absence for personal reasons.
Pagan noted growth in ABS still has a long way to go and customers are demanding more explanation of new products on both the primary and secondary sides of the business, as well as requiring more insight into market dynamics and trading opportunities.
At DrKW, Specht reported to Guido Barthels, global head of debt research based in Frankfurt. Domenico Picone, director in ABS research in London who joined DrKW from Royal Bank of Scotland in May, has been made head of structured credit research.