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Securitization People and Markets

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  • UBS is set to reduce the scope of its commercial real estate business in the U.S. and move staff from New York to its headquarters in Stamford, Conn.
  • JPMorgan is reducing staff in its commercial mortgage-backed securities group as a result of the bank’s acquisition of Bear Stearns as well as low origination volume.
  • Andrew Wenner has joined Mitsubishi UFJ Securities (USA) as an assistant v.p. within the capital markets group.
  • European institutional and high net worth investors are reported to be showing interest in unlevered loan funds, which deploy loan-only credit default swaps.
  • UBS is set to move staff to its headquarters in Stamford, Conn., from New York as it reduces the size of its commercial real estate business in the U.S.
  • Joe Sheehan, previously a managing director at Bear Stearns, has joined as a managing director at HSBC. His role could not be determined, and he did not return a call or an e-mail.
  • Morgan Stanley is setting up a fund to invest strictly in mezzanine debt. It is currently in the process of building a team of eight to 10 people.
  • New York-based Pali Capital continues to expand its high-yield team with three more hires: salesmen Michael Miller and Stephen Dodd, and credit specialist Kevin Zeits.
  • Neil Ahuja, the former head of U.S. residential mortgage business at Deutsche Bank, has resurfaced at Premium Point Investment Group.