Australia-based Macquarie Group’s Fixed Income, Currencies & Commodities (FICC) group has expanded its credit trading division with the addition of a commercial mortgage finance and commercial mortgage-backed securities (CMBS) team.
The new team, with New York-based appointments, will be led by Randy Reiff and adds an additional sector of mortgage origination, trading and securitization expertise beyond Macquarie’s existing focus on high-yield and distressed credit.
The team includes Mr Reiff, who joins as a managing director and head of commercial mortgage finance and CMBS. Mark Lebowitz and James Conopask join as a managing directors. Simon Breedon and Matthew Weinstein join as senior vice presidents and Andrew Flack joins as an associate.
Michael McLaughlin, senior managing director and head of credit trading division at Macquarie, said: “Our US based credit trading business provides clients additional trading and execution capacity that is backed by a strong balance sheet and active new issue pipeline. We have successfully grown the business with a particular focus on high-yield and distressed credit, and now see an opportunity to extend that offering into the commercial real estate and CMBS market.
“Mr Randy and his team’s track record in the sector and deep product knowledge will enable us to deliver an expanded offering to clients and work with them to capitalize on the opportunities presented in the market.”