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Securitization People and Markets

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  • Deutsche Bank has hired Tom Sangiorgio as head of secondary agency collateralized mortgage obligation trading.
  • ICP Capital has added two salesmen to its fixed-income sales team, bringing the number of salesmen at the firm in New York to seven.
  • The UK’s Financial Services Authority fined Credit Suisse £5.6m this week, it’s largest-ever sanction on a bank, for failures in controls that led to a shock writedown of $2.65bn shortly after the publication of the Swiss firm’s annual results earlier this year.
  • Tony McCann, head of high-yield sales at JPMorgan, has added head of loan and distressed sales to his title as the bank combines the sales team for the high yield, loans and distressed businesses.
  • New York-based start-up hedge fund Hildene Capital Management has raised about $20 million of the $1 billion it plans to invest in distressed structured products, including subprime mortgage-backed securities, collateralized debt obligations of asset-backed securities and collateralized loan obligations.
  • Heller Ehrman is the latest law firm to set up a covered bond practice following regulatory support for the sector.
  • Christopher Greener, an asset-backed securities analyst at Société Générale in London, has left the bank.
  • Tony McCann, head of high-yield sales at JPMorgan, has added head of loan and distressed sales to his title as the bank combines its sales effort for the high yield, loans and distressed businesses.
  • Former executives from Moody’s Investors Service, Jay Eisbruck and Stephen Macy, are reportedly starting up a fund that will buy distressed esoteric assets.