Euromoney has learnt of two high profile securitization management moves. The most surprising is that of Robert Palache, who has resigned as European head of corporate securitization and real estate at Barclays Capital. The move comes as a shock given what Barclays Capital has achieved in the European securitization market under Palache – particularly in real estate. Palache poached a three-strong CMBS team from rival Morgan Stanley in 2003 and has successfully built Barclays’ CMBS conduit franchise since then. Indeed, one of those hires – Lynn Gilbert, head of European CMBS – is taking over his role at the bank. At JP Morgan, Oldrich Masek has been appointed head of European securitization product group – a new role at the US bank. Masek will bring together all the component parts of the disparate structured finance business at JP Morgan, pointing to a new focus on securitization under Patrick Edsparr, global head of rates and securitized products, who is moving to London from New York.
Masek is a structured credit specialist and JP Morgan veteran. Until he was appointed global co-head of structured credit alongside Brian Zeitlin a year ago, Masek worked in a number of senior management roles in the European structured credit business, especially origination and structuring.