Bank One Capital Markets has made three new hires to its London-based asset-backed securitization team. On the origination side, Pedram Mazaheri and Cristina Baca have joined from Enron (Europe) and Nischal Patel has joined as a credit underwriter. Patel is also from Enron. The hires were made to beef up the firm's fledgling European ABS effort, says Brooks Crankshaw, head of European ABS.
Crankshaw, who assumed the helm of the firm's ABS team last month, says the firm will use its asset-backed commercial paper conduit capabilities to build its European ABS business. He says Bank One intends to focus on financial services companies and to leverage its existing corporate relationships to do trade receivables, auto-loans and lease-backed securitizations and whole business securitization deals. The firm is also looking at doing energy-related transactions for companies looking to securitize their oil and gas reserves.