SG Corporate & Investment Banking has hired Mike Gerity, senior director in the collateralized debt obligation group at Fitch Ratings in New York, according to market participants. Gerity, who worked on CDOs backed by exposure to loans at Fitch, was still at the rating agency as of last week.
An SG structured finance official referred questions to James Frischling, head of the U.S. CDO group at SG in New York. He did not return a call by press time and it could not be determined what role Gerity will take at SG. Jim Galvin, spokesman for SG, was unable to provide more information by press time.
At Fitch, Gerity reported to Jill Zelter, managing director in the CDO group, according to John Schiavetta, head of the group. He noted Fitch will be replacing Gerity. He added the rating agency has about six open spots in the CDO group it is looking to fill and in addition has a handful of new hires starting next month. It also recently hired Raman Karla from Ambac Financial Group at the director level.