• 21 Aug 2008 at 3:58 PM

Merrill Poaches Top Citi Mortgage Trader

By John Carney

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]

Comments (14)

  1. 1
    Posted by guest | August 21, 2008 at 4:12 PM

    hmmm…hiring freeze?

  2. 2
    Posted by guest | August 21, 2008 at 4:30 PM

    Nierenberg! Perfect hire one of the highest priced traders for a product line that no longer exists. Dopes.

  3. 3
    Posted by guest | August 21, 2008 at 4:55 PM

    So is that $500M in celebrity hires at MER YTD? I would be upset if I was recently fired or had my bonus cut.

  4. 4
    Posted by guest | August 21, 2008 at 5:04 PM

    Isn’t this like hiring the best damn buggy whip manufacturer? Please help me understand this?

  5. 5
    Posted by guest | August 21, 2008 at 5:04 PM

    #5 Eats my ass.
    SPODE

  6. 6
    Posted by guest | August 21, 2008 at 5:06 PM

    Hell yea. And its all that!
    SPODE

  7. 7
    Posted by guest | August 21, 2008 at 5:26 PM

    Who cares about shitty, I mean Citi? Their whole mortgage group is f*cked.

  8. 8
    Posted by guest | August 21, 2008 at 7:54 PM

    heard some ringer named Arkadiy Yakubov was being considered for the position.

  9. 9
    Posted by guest | August 21, 2008 at 8:01 PM

    never heard of him.. is he coming over right from Russia?

  10. 10
    Posted by guest | August 21, 2008 at 9:49 PM

    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?

  11. 11
    Posted by guest | August 21, 2008 at 11:22 PM

    Never heard of him either is he the heard of mortgages in Citigroup- Russia ?

  12. 12
    Posted by guest | August 21, 2008 at 11:43 PM

    wow

  13. 13
    Posted by guest | August 23, 2008 at 5:56 PM

    Sandra Gates and Agnes Teng (Co-Heads)

  14. 14
    Posted by guest | August 23, 2008 at 5:56 PM

    Sandra Gates and Agnes Teng (Possible Co-Heads)

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