UBS Warburg has hired a couple of new faces for its London-based European securitization team. Leland Bunch is the firm's new head of commercial mortgage-backed securitization and Drew Allen will be the new head of asset-backed syndicate and trading, says Steve Skerrett, head of European securitization.
Bunch joins UBS from J.P. Morgan Securities where he was on the structured real estate team. He replaces Caroline Philips who joined Eurohypo as head of CMBS last year. Bunch started last week and reports to Skerrett.
Allen will join UBS in about a month. He hails from Citigroup where he had been an ABS syndication banker. He replaces Dan Cook who left UBS earlier this year to take time out from the business. Allen reports to Ramesh Singh, global head of ABS and MBS in New York.