Macquarie Group's Fixed Income, Currencies & Commodities (FICC) Group has announced the expansion of its Credit Trading Division with the addition of a commercial mortgage finance and commercial mortgage-backed securities (CMBS) team. The New York-based appointments continue the growth and expansion of the firm's credit trading business, which was established in March 2008.
The newly established commercial mortgage finance and CMBS team will join Macquarie's Credit Trading Division. The new team 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:
►Randy Reiff joins as a managing director and head of commercial mortgage finance and CMBS. Reiff brings 18 years of experience in investing, structuring and trading in the commercial real estate and mortgage industry. Most recently, he was president of Spartan Real Estate Capital and prior to that was global head of commercial mortgage finance and CMBS at JPMorgan and Bear Stearns.
►Mark Lebowitz joins as a managing director. Lebowitz brings 17 years of experience in commercial real estate securitization and capital markets. Previously, Lebowitz was director of capital markets at Spartan Real Estate Capital, having joined from JPMorgan and Bear Stearns where he served as head of CMBS capital markets and new issue structuring.
►James Conopask joins as a managing director. Conopask brings 18 years of experience in commercial real estate credit underwriting and investing. Previously, Conopask was chief investment officer at Spartan Real Estate Capital. He joined the firm from JPMorgan and Bear Stearns where he headed institutional credit for the firm's large loan commercial mortgage groups.
►Simon Breedon joins as a senior vice president. Breedon has nine years of experience in commercial real estate and investment banking, most recently with Spartan Real Estate Capital and prior to that as a senior member of JPMorgan and Bear Stearns commercial mortgage finance groups' institutional credit teams.
►Matthew Weinstein joins as a senior vice president. Weinstein has six years of experience in commercial real estate finance and CMBS trading. He joins from Spartan Real Estate Capital where he was responsible for CMBS trading and investments. Prior to joining Spartan, Weinstein was a senior member of Bear Stearns' CMBS trading team.
►Andrew Flack joins as an associate. Previously, Flack was at Spartan Real Estate. He joined from JP Morgan and Bear Stearns where he was a member of the firms' commercial mortgage finance group's institutional credit teams.
"Our U.S.-based credit trading business provides clients additional trading and execution capacity that is backed by a strong balance sheet and active new issue pipeline," said Michael McLaughlin, senior managing director and head of Macquarie's Credit Trading Division. "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. 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."
For more information, visit www.macquarie.com.