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.
BofA Merrill Lynch names Todd to head CMBS research
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