People moves and key promotions in securitisation

This week’s roundup of securitisation job swaps sees SCI exclusively reveal that the European Investment Fund’s chief investment officer is retiring from his role after almost three decades with the fund. Elsewhere, Performance Trust Capital Partners has poached three executives from Pagaya, while ELFA announces its ceo is to step down from her role.

Alessandro Tappi is to retire from his role as chief investment officer at the European Investment Fund, SCI has learned. It is understood that Tappi will be replaced by colleague and current deputy chief investment officer and head of guarantees for the securitisation and inclusive finance division, Marco Marrone, before the end of the year.

Tappi has been with EIF for 29 years, joining the institution in its start-up phase in 1995 and taking up the role of chief investment officer in 2018. He was responsible for building out the fund’s capital presence and its activity in SME securitisation. Prior to joining EIF he was a senior analyst at SanPaolo Bank.

Marrone has been with EIF for 19 years, having previously worked at Herbert Smith and Gianni Origoni & Partners. He was promoted to his current role in 2018, after spending three years serving as head of regional mandates – guarantees, securitisations and microfinance.

Meanwhile, Performance Trust Capital Partners (PT) has poached three Pagaya execs - Benjamin Blatt, Paul Limanni and Gregg Davis - to lead its new ABS banking team, based in New York. The trio brings decades of experience in the structured products sector, combining a blend of banking, business development, trading, distribution and operational experience. This diverse skillset will enable them to help expand PT's current ABS capabilities, providing a blend of both originator and investor perspectives.

Blatt and Limanni have been named co-heads of ABS banking at the firm. Blatt was formerly chief business officer at Pagaya - which he joined in October 2017 - and Limanni was previously chief capital officer, having joined Pagaya as head of capital markets in July 2020. PT has appointed Davis as a director, having previously been head of treasury at Pagaya.

ELFA is to bid farewell to incumbent ceo, Sabrina Fox, later this year after she announced her decision to step down following five years of service. Fox led ELFA from its inception as ceo, and during her tenure led the organisation to make significant improvements to the standardisation of ESG disclosures across the leveraged finance universe.

Upon the appointment of her successor later this year, Fox will continue her efforts in the structured finance market by delivering education on debt documentation through her self-founded online covenant training platform, Fox Legal Training. She will also continue to support women’s empowerment endeavours through her organisation, Good Girl to Goddess.

UMB Bank, a subsidiary of UMB Financial Corporation, has expanded its CLO trustee and loan administration team by hiring Henry Brigham, Willis Hwang, and David Knecht from Wilmington Trust.

Brigham will serve as the team manager and lead senior relationship management for the CLO group. He previously worked as the vice president of CLO, borrowing base, and loan administration services at Wilmington Trust.

Hwang will support senior relationship management. At Wilmington Trust he held the position of vice president – senior relationship manager, CLO trustee.

Knecht, who was the senior vice president in the CLO transaction servicing team at Wilmington Trust, will be in charge of UMB Bank’s CLO business solutions and intelligence.

Miller has announced two new appointments to its growing reinsurance practice, with Steven Rance joining as head of reinsurance strategy and innovation and Charlotte Lowe joining as an account handler. Rance will report to Shaun Sinniah, Miller’s head of reinsurance and capital, and work with the global team to support the expansion and shape the strategy of the broker’s reinsurance offering.

Rance joins from Price Forbes Re, where he led its specialty division, and has more than 35 years of experience in global financial services. This includes six years as a managing partner at Gallagher Re, which he joined in 2017 to establish and lead its global mortgage risk reinsurance division. Rance has particular specialisms in credit-risk related services, such as portfolio structuring and SRT generation, and has held a number of senior roles across mortgage and credit risk insuring, broking and consulting.

Lowe joins from Price Forbes Re, where she was a broker. She has experience across housebuilders and captives, having previously worked for Gallagher Re.

Two Harbors Investment has made two new senior appointments as it seeks to enhance its operational business. James Campbell and Chris Hurley join the firm as head of servicing at RoundPoint Mortgage Servicing and chief technology officer respectively. 

Campbell joins Two Harbors with more than thirty years of experience in servicing from Flagstar Bank where he was head of servicing. Previously, Campbell also operated as head of servicing (and post-closing) at Caliber Home Loans, and prior to that was the head of asset management for the RMBS group at Deutsche Bank. 

Hurley joins with similar levels of expertise in his field, bringing more than 20 years of experience working on servicing systems and platforms. He joins from Newrez/Shellpoint Mortgage Servicing where he was senior vp, head of servicing technology.

And finally, The Brattle Group has recruited Edmond Esses to its New York office as a principal in its bankruptcy and restructuring practice. He brings nearly two decades of experience advising clients on complex bankruptcy and restructuring disputes, including Puerto Rico's debt recovery plan and the Lehman Brothers bankruptcy, on behalf of RMBS trustees. Esses was previously a senior director in Kroll’s expert services practice, which he joined in December 2010, having worked at Dynamic Credit Partners before that.

Claudia Lewis, Corinne Smith, Ramla Soni, Kenny Wastell