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By Adam Tempkin
NEW YORK, Oct 31 (IFR) - Barclays has promotedMartin Attea to co-head of its US securitized-products group,replacing Diane Rinnovatore, who has left the firm after 16years, according to sources familiar with the matter.
Attea, who was formerly a senior originator of consumersecuritization transactions reporting to Rinnovatore, joinsco-head Cory Wishengrad, who continues to lead the esoteric ABSfranchise. Wishengrad has been co-head of the overall structuredfinance group since April 2010.
Rinnovatore, a Lehman Brothers veteran who was formerly inBarclays' debt capital markets group, was moved into thestructured-finance co-head position covering consumer ABS inApril 2011.
She replaced the former co-head, Jay Kim, who defected alongwith at least 10 of his bankers to Credit Suisse earlier that year. Kim is the head of Credit Suisse's USsecuritized-products team.
At the time, Barclays immediately moved to rebuild itssecuritized products consumer-ABS origination group, hiringAttea back from Morgan Stanley, which he joined fromBarclays in November 2009, and poaching several other ABSexperts from across the Street.
The firm has been one of the most consistent, top players instructured finance, even after its 2011 shake-up; it iscurrently ranked as the Number 2 US ABS underwriter in ThomsonReuters SDC league tables, and has finished each year in the toptwo spots for the past five years.
As co-head, Attea will manage the consumer and mortgage ABSareas, and will report jointly to Jim Glascott, the head ofglobal debt capital markets, and Scott Wede, the head of globalsecuritized products trading.
Wishengrad's esoteric ABS group will become a part ofBarclays' global leveraged finance business, reporting into JeanFrancois Astier, the head of global leveraged finance.
Wishengrad, also a Lehman Brothers veteran, leads anesoteric ABS team that has played an instrumental role recentlyin reviving the market for securities backed by non-traditionalcollateral as varied as restaurant franchise fees and timber.
The Barclays securitized-products management team is roundedout by Chris Leslie, the head of global sales, Adam Yarnold, thehead of US trading, Brian Wiele, the head of the Americassyndicate, and Joseph O'Doherty, the head ofresidential-mortgage finance.
