Loan data verification company IMARC has hired Lisa Binkley as senior director of product design and business development. Binkley will focus on product development and marketing associated with quality control, due diligence, and data verification. She will also oversee strategic partnerships in product development across the mortgage industry. Binkley was previously at Equifax where she was […]
Bank of New York Mellon Corp. has named one of its longtime executives to head up its trust company. Troy L. Kilpatrick took over as president of the Bank of New York Mellon Trust Co., a position he held from February 2009 to December 2010, the custody bank said on Wednesday. Kilpatrick replaces Timothy Vara, […]
Credit Agricole Corporate and Investment Bank (CIB), which is Credit Agricole Group’s corporate and investment banking arm, appointed Frederic Truchot as head of fixed-income markets. Truchot, with over 20 years with Crédit Agricole, and most recently head of capital markets Japan, succeeds and will report to Jean-François Deroche, Credit Agricole-CIB’s senior regional officer for the Americas region and U.S. […]
Barbara Desoer, the president of Bank of America‘s home loans division who was once considered a possible successor to former Chief Executive Ken Lewis, will retire at the end of February, BofA said Friday. Desoer, 59, led the integration of four major acquisitions by Bof A, including Fleet Financial, MBNA, U.S. Trust and LaSalle Bank. […]
This is a weekly securitization news update from the staff of Asset Securitization Report sponsored by Deloitte.
Mark Gollin has joined Carlton as managing director who will run the company’s European capital markets business. Gollin will work with Carlton Chairman Howard Michaels to provide large amounts of equity and debt to property owners who can either recapitalize their assets or buy their loans back from lenders at discounts. Carlton’s current pipeline of European […]
CoBiz Financial will begin providing asset-based loans to middle market businesses through its newly formed CoBiz Structured Finance. Chris Randall, previously a co-founder, board member and chief operating officer of MFC Capital Funding in Chicago, will lead the group. Randall has more than 20 years of experience in the financial services industry. Prior to his role […]
It appears that possible salary and bonus caps at the GSEs are not hurting the recruiting efforts of at least Fannie Mae. According to industry officials familiar with the matter, Fannie has hired Adam Glassner, executive vice president in charge of capital markets for GMAC Mortgage, a trade name for Ally Financial’s mortgage division. A […]
Ally Financial just can’t escape its troubled mortgage unit, which dragged the company’s fourth-quarter results into the red on Thursday. The lender’s leaders have become increasingly resentful of their mortgage albatross. Chief executive Michael Carpenter told analysts Thursday that he would have “rather not” have paid $270 million in the fourth quarter to settle foreclosure […]
The Securities and Exchange Commission (SEC) charged four former investment bankers and traders at Credit Suisse Group for their “complex scheme to fraudulently overstate” the value of $3 billion in subprime bonds during the subprime credit crisis’ height. The SEC alleged that Credit Suisse’s former global head of structured credit trading Kareem Serageldin and former head of hedge trading David […]
Third-party review firm Allonhill hired Lorie Helms as Chief Technology Officer. The new hirewill manage Allonhill’s technology departments and offer strategic leadership of the firm’s loan review systems and innovation. Helms will oversee the continued development and evolution of Allonhill’s proprietary due diligence, credit risk management, and rate lock systems, each of which is customized according to […]
Hogan Lovells has expanded its New York finance practice by adding Peter Humphreys and Evan Koster. Humphreys’ practice is focused on securitization such as financings of equipment and operating leases, credit card receivables, auto loans, energy receivables, healthcare receivables, intellectual property, and trade receivables. He also has extensive experience with structured capital deals for insurance firms and other […]
Philadelphia-based financial services firm Janney Montgomery Scott has expanded its capital markets group with new hires and plans to open an office in Dallas. The company added Charles Engel and Paul Callahan as managing directors for its institutional credit sales team and Colin Morse as a vice president for its financial institutions team. Engel was […]
Boutique investment bank The Williams Capital Group has added a new division called Eland Capital to address structured finance opportunities for corporate, federal, state and local government clients. Eland is led by William Lighten, who has more than 20 years of Wall Street experience and has held various key leadership positions within Lehman Brothers’ securitization and mortgagebusinesses, including […]
Seyfarth Shaw hired Frank Burke for the firm’s Los Angeles offices as a litigation partner. Burke was previously at Steptoe & Johnson where he was a partner and national practice group leader of the securities litigation and enforcement practice group. He previously was an assistant U.S. attorney for five years, focusing on white collar and economic crimes. Burke’s practice covers complex […]
Pillsbury has hired Anthony Schouten and Jeffrey Stern for its finance group as partners in New York. Formerly at Stroock & Stroock & Lavan, the partners’ experience covers securitization, derivatives, commodities and cross-border structured financings. The hires are part of the law firm’s expansion of its New York office. They also strengthen Pillsbury’s capabilities for advising commercial and investment […]
The law firm of Shearman & Sterling has named a new deputy head to its leveraged finance group. The firm named Monica Holland to the new position. She reports to David Beveridge, who leads the group. Both are based in New York. The leveraged finance group, which has 30 partners serving within it, was founded […]
Cantor Fitzgerald has made key appointments for its high yield, investment grade and research groups as part of the build out of its global credit fixed-income platform and capabilities. These hiring additions, who will report to co-heads of the credit fixed-income department Adam Vengrow and David Pichler, bring the number of new hires in Cantor’s credit fixed-income group […]
Fannie Mae‘s final multifamily issuance numbers for 2011 are in and they reflect a 50% increase from the previous year, according to an executive at the GSE. “We didn’t see liquidity dry up over yearend as we sometimes do, so I think that’s a real positive for the market,” Kimberly Johnson, vice president of multifamily […]
Former Fannie Mae CEO Daniel Mudd, who was named last month in a mortgage-related Securities and Exchange Commission fraud suit, has officially resigned from publicly traded investment manager Fortress Investment Group and its board, ending a leave of absence. “I want to thank Fortress for the opportunity to help lead the company over the last […]
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