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

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…