Stacey Mitchell, asset-backed trader at J.P. Morgan, starts next week as head of the asset-backed syndicate desk at BNP Paribas. Mitchell confirmed the move but referred questions to David Mandel, head of securitization for the Americas at the French bank. He did not return a call.
Edwina Frawley, spokeswoman for BNP Paribas, noted Mitchell is being brought on now as part of the bank' broader goal of increasing its origination activities in the U.S. structured finance market. In fact, she noted it has acted as co-lead underwriter on two recent sales--a sub-prime mortgage deal for Ameriquest Mortgage and energy-recovery bonds for Pacific Gas & Electric--marking its first deals as lead or co-lead. Given it expects to act in a similar role for more deals, the syndicate head position is being created.
Mitchell reports to Peter Masco, head of high-grade syndicate for the U.S., and to Michael Donahue, global head of securitization in London. Separately, Donahue is relocating to New York next month, Frawley said.
A former colleague at J.P. Morgan said Mitchell will be missed, declining further comment.