Company hires and sector developments

Auction platform

Mortgage Capital Trading has launched Trade Auction Manager (TAM) to enable more efficient bidding of TBA MBS used by lenders to hedge their open mortgage pipelines. The browser-based software module is accessible via MCTlive!, the company’s capital markets platform. TAM digitises a formerly manual communication process to confirm time-sensitive TBA trades that were once largely phone-based and was developed in collaboration with a number of lender clients and broker-dealers.

CMBS prepayment

The US$503.5m Cloverleaf Cold Storage Trust 2019-CHL2 is believed to have become the first CMBS to pay off a month after making its inaugural bond payment. The single-borrower deal - collateralised by Cloverleaf Cold Storage facilities - had its first interest payment in April and then paid off with the May remittance cycle, according to Trepp. The firm suggests the fact that Cloverleaf was acquired by Americold Logistics in April may be a driver behind the pay-off

Independent investment bank bulks out

EA Markets has hired Fouad Onbargi as md, responsible for expanding EA’s asset finance advisory service and developing new client relationships. He previously built the asset-based banking effort at KGS-Alpha and led securitisation banking teams at JPMorgan and Barclays Capital.

Niche SF firm nabs investment vet

Hildene has hired Jatin Dewanwala as director of investment research. Prior to joining Hildene, Jatin was md at Bay Crest Partners, where he led efforts to modernise the broker dealer’s fixed income business.

Pension firm seeks analysts

PGGM is hiring an analyst and a quant analyst to the credit and ILS team. The analyst position will start with a focus on credit risk sharing transactions and, at a later stage, may expand its focus to ILS investments as well. The quant analyst position will be working on the proprietary models that PGGM is using in managing its €11bn investment portfolio, focussing on both credit risk sharing transactions and ILS investments.

US investor creates UK position

Ellington Management Group has hired Jonas Frantz as md and head of business development, Europe and the Middle East. The newly created position will see him based in London. Frantz joins from JCF Consilium Consulting, which he founded and where he was md and prior to that he was at Paulson & Co where he was md, responsible for investor relations in Europe.