Mark Rasimas, portfolio manager and trader at U.S. Trust in New York, has joined Wells Capital Management. Rasimas said he will work in a similar role as an asset-backed and commercial mortgage-backed securities analyst and trader.
Rasimas reported to Alex Powers, head of institutional fixed-income at U.S. Trust, and now reports to Marie Chandoha, senior portfolio manager and managing director at Wells Capital, which has around $120 billion under management. Rasimas has joined the Walnut Creek, Calif. group which manages $9 billion in fixed-income. Chandoha and Powers did not return calls.
Rasimas is the second such fixed-income portfolio manager to leave U.S. Trust of late. Cyril Theccanat, managing director in institutional fixed-income investment management, recently joined Houston manager Smith, Graham & Co. Asset Management as executive v.p. and managing director of fixed income (BW, 9/6).