Wells Fargo Securities, the investment banking and capital markets business of Wells Fargo, announced Thursday that it promoted Ari Kavour and Mike Llodra to co-heads of the mortgage finance group.
Wells Fargo Securities’ mortgage finance group provides warehouse and term financing to companies and investors that own, originate or invest in residential real estate mortgages or securities.
Kavour and Llodra have both been with Wells Fargo Securities for some time, serving in different roles.
Kavour joined Wells Fargo Securities in 2012 as the lead of the residential mortgage backed securities/mortgage trading team.
Prior to that, Kavour served as co-head of the collateralized mortgage obligation and agency adjustable-rate mortgage trading businesses at Morgan Stanley.
Earlier in his career, Kavour was headed up the agency mortgage trading business at Merrill Lynch and also traded a wide range of agency and non-agency mortgage securities for 11 years at Goldman Sachs.
Llodra most recently served as Wells Fargo Securities’ head of asset-backed finance & securitization capital markets, joining the company in 2011.
For the time being, he will continue to oversee this group until a successor is named.
Prior to joining Wells Fargo Securities, Llodra was a structured finance specialist at Harvard Management. Earlier in his career, Llodra served as the head of the structured product collateralized desk obligation securities desks at J.P. Morgan, Bank of America and Citigroup.
“The Mortgage Finance Group extends financing and provides capital markets advice to originators, servicers and investors active in the residential sector,” Chris Pink, head of asset-backed finance & securitization, said.
“Under the leadership and guidance of Kavour and Llodra — and with their combined expertise across banking, structuring and trading — the group will dovetail more closely with the distribution and trading desks in Wells Fargo Securities to bring end-to-end capital markets solutions to our clients,” Pink added.
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