Citigroup just lost its lead mortgage trader to Merrill Lynch, Dan Freed of theStreet.com is reporting. Jim De Mare's departure would be the second senior mortgage trading executive Merrill has recruited in recent weeks.
Mike Nierenberg, a Bear Stearns veteran who served briefly as head of mortgage trading and other securitized products at JPMorgan Chase, is also expected to join Merrill, according to Bloomberg and other sources. Demare and Nierenberg did not return calls to their mobile phones.
Citi's Top Mortgage Trader to Join Merrill [TheStreet.com]
Posted by guest , Aug 21, 2008 4:12PM
hmmm...hiring freeze?
Posted by guest , Aug 21, 2008 4:30PM
Nierenberg! Perfect hire one of the highest priced traders for a product line that no longer exists. Dopes.
Posted by guest , Aug 21, 2008 4:55PM
So is that $500M in celebrity hires at MER YTD? I would be upset if I was recently fired or had my bonus cut.
Posted by guest , Aug 21, 2008 5:04PM
Isn't this like hiring the best damn buggy whip manufacturer? Please help me understand this?
Posted by guest , Aug 21, 2008 5:04PM
#5 Eats my ass.
SPODE
Posted by guest , Aug 21, 2008 5:06PM
Hell yea. And its all that!
SPODE
Posted by guest , Aug 21, 2008 5:26PM
Who cares about shitty, I mean Citi? Their whole mortgage group is f*cked.
Posted by guest , Aug 21, 2008 7:54PM
heard some ringer named Arkadiy Yakubov was being considered for the position.
Posted by guest , Aug 21, 2008 8:01PM
never heard of him.. is he coming over right from Russia?
Posted by guest , Aug 21, 2008 9:49PM
Given all the implosions, detritus, collapses, failures and general non-performance involved in mortgage trading of late, wouldn't the story be similar to one about the Texas Ranger baseball team getting a "lead pitcher" from Oakland? I mean, come on. WTF?
Posted by guest , Aug 21, 2008 11:22PM
Never heard of him either is he the heard of mortgages in Citigroup- Russia ?
Posted by guest , Aug 21, 2008 11:43PM
wow
Posted by guest , Aug 23, 2008 5:56PM
Sandra Gates and Agnes Teng (Co-Heads)
Posted by guest , Aug 23, 2008 5:56PM
Sandra Gates and Agnes Teng (Possible Co-Heads)