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Securitization People and Markets

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  • Cadwalader Wickersham & Taft is currently on the look out for four lawyers to join its securitization group.
  • The Royal Bank of Scotland has settled a negligence lawsuit against Weil, Gotshal and Manges over a $2 billion collateralized debt obligation that was done in 1999.
  • Merrill Lynch has hired Benjamin Merrill from HSBC’s asset-backed securities underwriting group.
  • MD Sass has hired Mark Crawley as a director of the firm’s high-yield asset-backed securities hedge fund Waterfield Asset Management, which launched two years ago
  • Credit Suisse is in the process of expanding its research capacity to focus the burgeoning Russian securitization market.
  • Standard & Poor's is to open an office in Dubai, its first in the Middle East, on the back of expectations the Gulf markets will see the number of structured finance ratings treble within the next five years.
  • Art Penn, the co-founder, ex-president and chief operating officer of Apollo Investment, has set up a firm to manage a business development company.
  • Six Degrees Capital Management has hired Timothy Nabors as managing director from New York Life Investment Management.
  • Amin Majidi, head of mortgage-backed securities research at Deutsche Bank, has left to start up a hedge fund focused on MBS and asset-backed securities.