NEW YORK, April 20, 2015 /PRNewswire/ -- Societe Generale Corporate & Investment Banking (SG CIB) announced today that it has hired Daniel McGarvey and a team of senior ABS bankers as the bank continues to expand its U.S. asset-backed securities business, in all aspects of the market, from originating loans to structuring, distributing and trading the securities.
McGarvey will manage an expanded team of ABS and CMBS professionals with the objective of building a leading U.S. ABS franchise, both in mortgage and non-mortgage asset-backed security segments.
McGarvey, who has over 20 years of experience in the broad spectrum of U.S. securitized products, most recently headed RBS's non-mortgage ABS business, developing the franchise into a market leader. Prior to RBS, McGarvey marketed, structured and executed term ABS distribution at Banc One Capital Markets, and prior to that JP Morgan, where he began working in ABS in 1994.
Also joining Societe Generale in senior positions as part of McGarvey's team are Bob Pucel, as head of ABS/CMBS syndicate, and Carl Spalding as a lead ABS Banker. In addition, Sean Whelan has been hired as a senior asset-backed products salesperson. Additional hires announced today supporting the bank's initiative include Parker McKee in sales and Ryan Comins in syndicate. All were previously with RBS and will be based in New York.
The new hires will strengthen Societe Generale's U.S. CMBS business, which was launched earlier this year with the hiring of a leading team of CMBS executives, as well as expand the bank's existing non-mortgage ABS/Conduit platform with corporates and financial institutions.
This build-out is part of a global Societe Generale initiative headed in the U.S. by Hatem Mustapha* to develop asset backed product capabilities that will take advantage of a trend towards increased securitization to finance the economy. The expansion of the asset-backed platform is representative of the firm's specialized product approach, recognized expertise in securitization, structuring and engineering and financial innovation capabilities.
* Supervisory responsibility is pending receipt or transfer of relevant regulatory licenses
Societe Generale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.
Societe Generale has been playing a vital role in the economy for 150 years. With more than 148,000 employees, based in 76 countries, we accompany 32 million clients throughout the world on a daily basis. Societe Generale's teams offer advice and services to individual, corporate and institutional customers in three core businesses:
- Retail banking in France with the Societe Generale branch network, Credit du Nord and Boursorama, offering a comprehensive range of multichannel financial services on the leading edge of digital innovation;
- International retail banking, financial services and insurance with a presence in emerging economies and leading specialised businesses;
- Corporate and investment banking, private banking, asset management and securities services, with recognised expertise, top international rankings and integrated solutions.
Societe Generale is included in the main socially responsible investment indices: FTSE4Good (Global and Europe), Euronext Vigeo (Global, Europe, Eurozone and France), ESI Excellence (Europe) from Ethibel and 4 of the STOXX ESG Leaders indices.
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Societe Generale Corporate & Investment Banking
At the core of Societe Generale's universal banking business model, the Corporate & Investment Bank is a well-diversified and leading player with nearly 10,500 professionals present in more than 31 countries across Europe, the Americas and Asia-Pacific.
Standing by its clients across sectors, the Corporate & Investment Bank tailors solutions for them by capitalising on its worldwide expertise in investment banking, global finance, and global markets.
- For Corporates, Financial Institutions and Public Sector: providing a global advisory approach (M&A, debt, equity transaction, capital structure, and asset & liability management), as well as quality capital raising solutions across the debt and equity spectrum, optimised financing and expert risk management responses notably in the realm of foreign exchange and rates derivatives.
- For Investors: offering reliable and sound investment opportunities and risk management solutions through its integrated global markets platform delivering seamless access to markets (equity, rates, credit, currencies, commodities and derivatives), as well as advice and solid financial engineering, quality of execution – both Agency and principal-, forward-looking research across asset classes, an industry-leading clearing proposition and prime brokerage services.
SOURCE Societe Generale