Banc of America Securities has hired Mert Arinc as associate banker in its Charlotte, N.C.-based global asset-backed securitization department. Arinc says he will report to Andy Glenn, managing director in charge of auto-backed transactions within the ABS group. Arinc will focus on both auto and credit card transactions. Glenn did not return calls and it is not clear whether Arinc's position is a newly created one. Arinc comes from San Francisco-based Providian Financial, which has been in the headlines frequently recently for its high-profile financial problems. At Providian, he reported to Mike Riley, head of the securitization group. Arinc says he decided to make the move because working on a sell-side securitization team on the sell-side provides a better opportunity than working for an issuer. Arinc was at Providian for three years.
Buyside Banker Moves To Banc Of America