Structured finance market round up: Market moves
Richard Downer, who left Bear Stearns last June having been responsible for its troubled Rooftop Mortgages subsidiary, has joined Bank of America in London. The hire of Downer, together with former Bear colleague Neil Warman, would suggest that BoA might be the latest bank planning a move into the non-conforming mortgage space. Bear Stearns opted to bring in US talent to run the London-based residential mortgage business, which is now headed by Fred Khedouri. In another London-based move, Colin Evans has transferred to the specialty finance group at JPMorgan with a remit to boost consumer finance and non-bank financial business. He was previously head of FIG securitized products at the bank.