Wachovia expands structured credit team

Wachovia Securities, the corporate and investment banking arm of Charlotte-based financial services company Wachovia Corporation, has recruited five people to work within the structured credit products group.

Ron Shumer joins as a director in total return swaps trading from Bank of America and is based at the company’s headquarters in Charlotte. Greg Freer, also from Bank of America, joins him as a director in marketing.

Andrei Litvintsev joins the bank in New York as a vice-president in deal management. He was previously at UBS. Julia Hu joins him there from Credit Suisse First Boston. She has the same title but will focus on multi-sector collateralised debt obligations (CDO).

Henrik Malmer, previously at Bear Stearns, joins the London office as vice-president in asset-backed securities and CDO trading.

All five of the hires report to managing director and global head of structured credit products, Yu-Ming Wang.

“Expanding our structured credit derivatives team is a natural extension of our growing platform, and each new hire will have great success in our fixed-income division," said Wang.