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Securitization People and Markets

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  • Cantor Fitzgerald has hired three more members to its expanding debt capital markets group.
  • John McManus, a senior v.p. on the Lehman Brothers' sales desk, resigned from the firm last week.
  • BlueBay Asset Management in London is opening a U.S. office and hiring marketers to target U.S. investors with its suite of fixed-income hedge funds and "long plus" bond strategies.
  • Moody's Investors Service says the total dollar volume of corporate bond defaults jumped in 2005, even though the number of issuers defaulting on corporate bonds fell for the fourth year in a row.
  • Mark Davies is now the sole head of credit trading at Bear Stearns following the departure of Kelley Millet (CIN, 1/30).
  • The Bond Market Association is celebrating its 30th anniversary by laying out its future path and continued transparency is one of the main stepping stones.
  • CypressTree Investment Management, a Boston-based loan and high-yield bond manager with $2 billion under management, is launching an outpost in London to increase its euro and sterling-denominated investments.
  • GSC Capital Partners, which has more than $9 billion in assets under management, plans to recapitalize the company and convert from a partnership with a few owners to a more broadly owned entity, said Andrew Wagner, managing director and cfo.
  • Jefferies Group and Massachusetts Mutual Life Insurance Co. have agreed to double their equity investment in Jefferies Babson Finance, a venture the two firms formed in October 2004.