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Wednesday 17th of September 2008

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September 2, 2008

Merrill Lynch strengthens mortgage team

by Richard Kilner

Story link: Merrill Lynch strengthens mortgage team

Merrill Lynch & Co., Inc. has announced the appointment of Michael Nierenberg as head of global mortgages and securitised products businesses.

In addition, the firm has hired James De Mare to join the mortgage trading operations team.

De Mare will report to Nierenberg, who in turn is responsible to Thomas K. Montag, global sales and trading chief.

Nierenberg joins from JPMorgan, where he served as head of global securitised products.

He joined the firm from failed investment bank Bear Stearns which was acquired by JPMorgan earlier in 2008.

During his career, Nierenberg spent 14 years with Bear Stearns, occupying a range of senior positions heading up various departments.

Previously, he worked for Lehman Brothers for seven years, playing a crucial role in the investment bank’s adjustable rate mortgage business.

De Mare joins Merrill Lynch from Citigroup, where he worked for 11 years, leaving behind his role as global head of mortgage trading.

De Mare has also worked for Salomon Brothers, Bear Stearns and Prudential Securities over the course of his lengthy career.

Montag has welcomed the two appointments, praising the two men as highly skilled and knowledgeable professionals.

 

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