People moves and key promotions in securitisation

This week’s roundup of securitisation job swaps sees experienced structured finance lawyer Jeffrey Stern join Reed Smith as a partner in the Financial Industry Group based in New York. The practice includes CLOs, litigation pre-settlement funding, consumer loan finance, equipment loan finance, music royalty finance, financing and securitization of insurance-related assets and specialty finance.

Stern has more than 30 years’ experience in structured finance and derivatives, including working in Latin America and the Caribbean for 20 years with a focus on cross-border assets and cash flow financings. His previous role was co-head of the structured finance practice at Winston & Strawn.

Stern’s arrival occurs several weeks after former GE Capital deputy general counsel Josephine Chang joined Reed Smith in the New York finance practice.

The firm’s broad structured finance capabilities encompass cross-border and cross-jurisdictional issues, including bonds, CP and MTNs, while it also advises on a wide range of securitized assets, intercreditor agreements, project bonds, Islamic bonds, high yield debt, convertibles and structured note programmes.

Meanwhile, UK mortgage specialist LendInvest has appointed Stephen Shipley as chief financial officer. The firm's interim cfo, Hugo Davies, will return to his original role as LendInvest's chief capital officer, and will also assume responsibilities as the md of the mortgages division.

Shipley brings over 30 years of experience to the role, gained from his previous work at various companies, including Barclays and Foundation Home Loans.

The firm has also recently restructured its team to a 200 employee headcount, with payroll costs reduced by about 25% per year.

Simon Boughey