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Securitization People and Markets

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  • Moody’s Investors Service made another set of downgrades late Friday to the monolines.
  • UBS has hired Bob Richter as a managing director in mortgage sales.
  • London-based asset manager Cairn Capital has refocused its U.S. and European asset-backed securities business on structured investment vehicle advisory work and replacement manager mandates as the new issue collateralized debt obligation market has dried up.
  • Jeff Teach has been named head of loan, high-yield and distressed trading at UBS.
  • Foreign pension funds are said to be looking to get involved in the U.S. loan market.
  • Fridson Investment Advisors hired Christina Boni from Credit Suisse as a portfolio manager and Trevor Jackson from Bear Stearns as a trader.
  • The Loan Syndications and Trading Association is drafting market practice recommendations for issuers of non-investment grade debt.
  • Nathan Speicher, a leveraged debt capital markets analyst at Deutsche Bank, is leaving at the end of June to join Highland Capital Management.
  • The Depository Trust and Clearing Corporation has announced that five global banks will support the launch of Loan/Serv by serving on its advisory committee.