Deutsche Bank has lost its head of European ABS origination, Jeff Stolz, to Goldman Sachs. As a managing director in the financing group, Stolz will undertake a similar role at the US firm, which has not had an ABS chief for a number of years. Deutsche has yet to announce a replacement.
He brings with him Paul Weitzkorn, who was a director in the ABS securitization team, and joins Goldman as an executive director. Goldman also hired Peter Speicher as an executive director in the securitization group. It was widely rumoured that Massimo Ruggieri, a well-known Italian ABS originator and structurer, was leaving Deutsche also, but Ruggieri is still at the German bank.
Stolz has held a number of senior roles as a financial institutions securitization banker. He spent the last 18 months as head of the European ABS group when he replaced his former boss, Michael Raynes, after the latter’s elevation to co-head of Deutsche’s global securitized products group. Raynes has since joined Citi, where he runs global structured credit products, based in New York. Stolz reports jointly to Pablo Salame, co-head of global credit, mortgages and emerging markets, and Dan Sparks, who is based in New York and is global head of mortgages.
