Sunday, 21 September 2014
Last updated 1 day ago
Aug 7 2012 | 1:09am ET
GoldenTree Asset Management has hired a former Goldman Sachs trader as it seeks to build its mortgage-backed securities trading.
Deeb Salem was head of non-agency mortgage securities trading at Goldman before his departure in May. He spent 11 years at the bank, including stints as head of single-name credit-default swaps referencing mortgage-backed securities trading in 2007. He started at GoldenTree this week.
“The mortgage space for us is a good opportunity and we’re building up our team,” GoldenTree chief investment officer Steven Tananbaum told Bloomberg Television. Non-agency mortgage-backed securities offer “probably the most upside in structured products,” he added.
Tananbaum called Salem an “honest” and “high-integrity guy.”
Tananbaum said new regulations and other changes on Wall Street have made hiring people like Salem easier. “The firms’ behavior has changed and because of that they’re more open-minded.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.