NEW YORK, Dec 2 (Reuters) - Amherst Securities Group on Wednesday said it hired veteran analyst Darrell Wheeler from Citigroup Inc. to help expand its business into commercial mortgage-backed securities.
Amherst specializes in residential mortgage-backed securities and has hired aggressively in research, sales and trading over the past two years.
It aims to build a similar business in CMBS, which finance one of the most volatile sectors of the U.S. economy. Many analysts believe a commercial real estate recovery will lag that of residential by at least a year, creating pitfalls for the $700 billion market.
Hedge funds and other investors have amassed billions of dollars for distressed investments in commercial real estate.
Wheeler was a managing director and global head of the Citigroup's securitized strategy unit. His research team held the top rank for six straight years in Institutional Investor magazine's fixed-income research survey, Amherst said.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment