ABN Amro is creating a London-based dedicated collateralized debt obligation group, and is looking to set up a commercial mortgage-backed group in New York, says John Mullen, global head of ABS. The firm is also looking to hire a new head of CDOs in London, a position that has been vacant since Mark Moffat joined Bear Stearns last year, he says. The new CDO group, which will be staffed by internal and external hires, is a response to the increased business in the European CDO market. As for the CMBS group, Mullen says the firm plans to hire a total of eight to 10 traders, salesmen, originator to the New York office as it ramps up its U.S. business to include large loans and floating rate loans. Mullen joined ABN last month from J.P. Morgan in New York, where he was a managing director in the investment banking division. He will relocate to London.
ABN To Bolster ABS Coverage