Merrill Lynch has hired Craig Krandel from Credit Suisse First Boston's mortgage backed securities sales group. Krandel had left CSFB and was unavailable for comment by press time last Wednesday during the holiday-shortened week. Krandel, whom a senior Merrill official says will start in approximately one month given CSFB's non-compete policy, will be in a newly created slot. Harley Bassman, head of Merrill's mortgage group, declined comment citing corporate policy.
At CSFB, Krandel covered mortgage originators and servicers, and was active in the whole loan product area. CSFB's mortgage chief Matt Ruppel declined to comment on who will replace Krandel or Tom Cornacchia who also left the firm recently (BW, 6/24). Tom Guba, head of securitized product sales at CSFB, did not return a phone call seeking comment.