Merrill Lynch has hired Drew Nugent as a v.p. in its global asset finance group. Nugent will report to Michael Blum, the managing director who heads the origination team in New York. Nugent says he will be a transactor on non-real estate ABS deals, focusing on a broad range of asset classes. An ABS banker says Nugent is filling in a slot left vacant with the recent departure of Richard Burke for HSBC Securities (BW, 6/10). With the addition of Nugent, Merrill's global asset finance group in New York is comprised of seven staffers, including Blum, four bankers, one analyst and one risk manager. At Lehman, Nugent worked in the origination team, reporting to Diane Rinnovatore, managing director. He declined to discuss his former duties. Prior to working with Lehman, Nugent was an analyst with Fitch Ratings, specializing in aircraft securitizations. Rinnovatore did not return calls.
Merrill Lynch Hires ABS Origination Pro