BofA Merrill Lynch names Todd to head CMBS research
Bank of America Merrill Lynch named Alan Todd to head its U.S. commercial mortgage-backed securities research. Todd joins the firm from JPMorgan (JPM), where he was head of domestic CMBS research since 2005. He also held a similar post at Bear Stearns for five years. Last week, Credit Suisse (CS) named Roger Lehman managing director and head of CMBS research. Lehman had been co-head of structured finance research at BofAML and was with Merrill Lynch since 1991. Todd replaces Lehman, will join BofAML in August and "be responsible for generating high-level, relative value and trade specific research recommendations to external and internal clients in both cash and synthetics." "Alan has a proven track record of making timely market calls and invaluable investment recommendations," according to Chris Flanagan, head of U.S. mortgages and structured finance research at BofAML. Write to Jason Philyaw.