Westdeutsche Landesbank has hiredTom Murray,Credit Suisse First Boston's former point man for power project finance loan syndication, as a managing director to fire up its loan and private placement effort for power and energy. Murray, who left CSFB Nov. 8 as part of the firm's strategic cutback in the area, joins the German landesbank's New York team this Monday, said Howard Moseson, managing director at WestLB, who declined further comment.
Murray will focus on structuring loans, helping out on sales and also on the private placement market, said an official. WestLB is looking to juice up its distribution capabilities in private placement and loans, with a particular eye toward expanding in the nascent energy and power "B" loan market. Murray was CSFB's point man for syndicating Calpine's "B" loan this spring (PFR, 5/27), which was one of the largest deals of its type to hit the market this year. As part of that distribution drive, and also to tap in to the "B" loan investor base, WestLB also has hired two loan traders from HypoVereinsbank. Marni Joy and Mike Halovatch joined the bank recently says a market official. HVB and the traders could not be immediately reached.