Hiring Strengthens in US Securitization Market

If the first month of 2011 is any indication of prevailing sentiment, then we should see many firms re-stocking their stalled securitization units over the next several months.  Seemingly attempting to get ahead of the curve for a resurgence in new issuance activity, several US banks and law firms have been making strategic hires.

Some of the action for this past month includes:

* Key Bank has restarted their CMBS program with several new hires planned over the coming weeks, including Randy Martin who joined the Chicago office last month from Charlotte-based Grandbridge Real Estate Capital.  Martin reports to Dan Baker, who heads up the CMBS group for Key.

* Chapman & Cutler hired James Croke and Peter Manbeck away from Orrick Herrington to bolster the firm’s New York-based securitization practice group; a sign that the firm may expect a revival of the asset-backed commercial paper market.

* Cadwalader, Wickersham & Taft added CLO specialist Joseph Beach to their Charlotte securitization team from Dechert, in an apparent attempt to tap into the revival of the syndicated loan market and the positive impact this activity is expected to have for new CLO issuance.

* Sidley Austin added Kevin Blauch as a partner to its New York based securitization practice group, where he will bring a substantial background in CMBS to the Sidley team.

Perhaps this activity bodes well for the many securitization professionals who will be gathering in Orlando next week for the American Securitization Forum’s annual conference; many, no doubt, with CV in hand.


About markferraris
Managing Principal Orchard Street Partners LLC

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