Standard & Poor's is seeking to hire roughly a half dozen professionals for its collateralized debt obligation business in New York, according to David Tesher, managing director and head of cash flow and market value CDOs. He said the hires would work in new roles in S&P's analytical effort and would be made as senior as the associate director level. "The individuals would be dedicated quants or primary analysts" on CDO transactions, he said. Tesher said the new hires are needed because the rating agency's CDO business has grown. Overall this year, roughly $32 billion in CDOs have been priced and another $20 billion or so worth of new paper is in the pipeline, according to data from Credit Suisse First Boston.
S&P Seeks Half-Dozen Hires For CDO Biz In New York