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

MiFID2 For U.S. Firms: Key Questions Answered

Feb 27 2017 | 4:54pm ET

The January 2018 deadline for implementation of the EU’s mammoth MiFID2 regulations...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of