D.E. Shaw Forms ABS Unit

Sep 2 2008 | 11:49am ET

Richard McKinney has joined D. E. Shaw & Co. as a managing director to oversee the firm’s newly formed asset-backed securities unit. McKinney will report to Max Stone, a member of the firm’s six-person executive committee.

McKinney joins the firm from Lehman Brothers, where he headed the securitized products business for the past year. He will work with Rocky Kurita, who joined the firm in July from Deutsche Bank, in the new unit.

“The asset-backed securities markets are fundamentally changing as a result of the excesses of the past few years, and we think we are well-positioned to build upon our current presence given our analytical rigor and strong risk management,” said Stone. “The depth of expertise in securitized products that Rich and Rocky bring will enhance our ability to invest in a broad range of asset-backed products.”

D. E. Shaw manages approximately $39 billion.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of