American Capital Access has hired Keith Gorman from Fitch Ratings as a residential mortgage-backed securities analyst. ACA, a New York-based insurance company, is an active collateral manager for cash flow and synthetic collateralized debt obligations with a niche expertise in managing structured finance bonds. Gorman will start next Monday. He will report to Laura Schwartz, managing director and senior credit officer for asset-backed securities. Cathy Bailey, a spokeswoman at ACA, says the position is newly created due to the growth of the structured finance business (BW, 3/3). Gorman says he is leaving the rating agency because he was interested in a career move to the buy-side.
At Fitch, Gorman reported to Carol Faber, senior director. He covered sub-prime mortgage-backed securities and manufactured housing. Faber says he will be replaced.