Deloitte Downsizing Securitization Practice

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We’re hearing rumors that Deloitte's securitization transaction practice group, said to be the biggest player in the mortgage, asset backed and CDO arena, held a meeting with the entire group last week announcing a major reorganization involving layoffs, relocations and transfers. The moves are expected in the coming 3-6 weeks, according to our source.
Deloitte calls this story inaccurate but hints that it may indeed be moving people out of its securitization practice.
“As with any other business, Deloitte continually looks at its workforce to determine how best to service its clients. That occasionally means deploying people in other areas that need more resources. While the economy may have slowed securitizations transactions across the industry, clients of Deloitte are still doing deals,” a Deloitte spokesperson said.
The moves may be an indication that Deloitte does not believe the securitization practice is likely to return any time soon.

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