Fitch Rating's commercial mortgage-backed securities group has been downsized, says Mary Metz, managing director and co-head of the CMBS group. She says the move was prompted by the firm's loss of market share due to notching by rival agencies Moody's Investors Service and Standard & Poor's (see story, page 1).
Heidi Silverberg, managing director, Daniele Violi, senior director in the New York office, and Diane Lans, a senior analyst in the Chicago office, have been laid off. Silverberg reported to Metz and the other co-head, Susan Merrick. Violi reported toZanda Lynn, managing director, and Lans reported to Silverberg, says Metz. She adds that two junior analysts within the CMBS group are being transferred internally, one to the risk management department, the other, in all likelihood to the CDO department.