Job Search 2004

31/08/2004 Deutsche’s CDO co-head to join JP Morgan WSJ reports JPMorgan announced in an internal notice that Brian Zeitlin, co-head of Deutsche’s CDO credit hybrid group, is joining the bank to “lead the global Collateral Debt Obligation business.” Also joining JPMorgan from Deutsche are James Kane, Steve Weinreich, Yale Baron and James Millard. According to Andy Brindle and Bertrand Des Pallieres, co-heads of global structured credit, the addition of Zeitlen and his team will be “an enormous asset in bolstering the bank’s strong Number Three position in a market that has already seen over $60 billion in issuance this year.” In recent months the CDO market has been very active, with investors looking for better returns. For hedge funds facing a tough year, buying equity in CDOs has been attractive for generating double-digit returns. CDOs have become a major credit product offering investors a variety of risk and return combinations based upon pools of diversified credit exposure in cash, derivative, mortgage- or asset-backed form.