One of Mizuho Securities’ key hires is that of Alexander Rekeda who joins as head of structured credit, Americas. He is in charge of the origination, warehousing, structuring, trading, underwriting and distribution of cashflow and synthetic CDO products including CLOs, ABS CDOs, and CRE CDOs.
Doug Munson and Jim Shepard have also joined as co-heads of the US DCM. Their focus will be on project finance, corporate bonds, 144A, and private placements. As a part of the team, Bill Budd will head structured credit sales.
“Mizuho Securities is pleased to welcome on board these outstanding professionals as part of its effort to significantly broaden and deepen its fixed income capabilities in the US and globally,” says Mark Fisher, managing director of Mizuho International.
Rekeda joins from Calyon, where he had been employed since July 2004. He describes his move as a unique opportunity, especially given the resources and commitment to the business that Mizuho brings. Before joining Calyon, Rekeda worked at Ambac.
The structured credit business is one of the most hotly contested arenas in capital markets. But Rekada makes a cogent case as to why his latest venture will be a success.
Same again
“When I started in Calyon in summer 2004 it was a new operation but at the moment I left it was one of the bigger CDO of ABS arrangers. I have no problem doing the same here,” says Rekeda.
Because Mizuho has a very large balance sheet its securities arm will have an advantage when it comes to execution of super-senior tranches efficiently. In addition to the cash CDO business, Rekeda will be working on managed synthetic and bespoke CDOs.
Joining Rekeda are several other structured credit bankers, including Benjamin Lee, Yuri Chumak, Xavier Capdepon, Gwen Snorteland, and Rachel Yang.
Paolo Torti has also joined Mizuho as head of the structured credit trading, reporting to Rekeda. He will run trading of CDOs, ABS, CMBS, and other structured credit products. Torti worked as a senior ABS & CDO trader at Calyon and as a trader at HSBC before that.
