SG Corporate & Investment Banking (SG CIB), an arm of Societe Generale, has created a US Residential Mortgage-Backed Securities Group (RMBS) and added six new hires.
SG CIB’s new initiative aims to develop a US RMBS capital market capabilities to complement its existing RMBS businesses in Europe and Australia and enhance SG CIB’s global structuring and distribution capacity to help issuers tap the US or European markets.
The six people have joined its US Residential Mortgage-Backed Securities team. David Chang has joined SG CIB as a director of Whole Loan Trading, from Deutsche Bank where he traded seasoned and distressed subprime mortgage credits. Abner Figueroa has joined as a director from Eurohypo AG. In his role at SG CIB, Figueroa will focus on securitization, managing relationships with sellers, and promoting the platform to investors.
Carole Mortensen has joined as a director from UBS where she managed various areas for RMBS and ABS products, including, contracts, due diligence and marketing the mortgage securitization program, which her new position with SG CIB will emulate.
Rob Pak has joined as a director from SG CIB’s CDO group. Prior to SG CIB, Pak was the head of ABS structuring at Bank One where he developed the structuring platform. At SG CIB, Pak will work on structuring and securitization execution.
Yuan Zhou has joined as a vice president from C-Bass. At SG CIB, Zhou will work as a collateral analyst and use his expertise to develop proprietary default and prepayment curves.
Finally, Graham Henley joined SG CIB at the end of last year as a director. Prior to joining SG CIB, Henley was with Garban-Intercapital where he was responsible for the Residential Mortgage Warehouse program. In his new role, Henley will focus on various opportunities in the residential mortgage space and will help expand the platform.
The RMBS team reports to Arnaud Denis, head of the Americas RMBS Group. “This team’s combined and extensive residential mortgage market experience will be a great asset in developing this new securitization platform, said Denis. This expansion also satisfies our desire to provide a full product offering to investors as appetite in the U.S. and Europe for asset-backed products continues to grow.”