Securities brokerage, investment banking and securities clearing service provider Southwest Securities added several traders to its taxable fixed income trading desks. The SWS Group (SWS) subsidiary noted the additions arrive to support growth in sales volume among mortgages, asset- and commercial mortgage-backed securities. Steve Palmer joined the New York office as senior vice president in mortgage trading, while Derek Rose joins the Chicago office as senior vice president on asset-backed securities (ABS) and commercial mortgage-backed securities (CMBS) trading. “We have been active participants in the taxable fixed income market for many years and we are finding there are opportunities now to grow because of the experienced talent available,” said Dan Leland, Southwest Securities executive vice president and head of fixed income. Palmer, who most recently was an executive director with JP Morgan, trading non-agency, fixed-rate securities and unsecuritized residential loans, worked at Chemical Securities, Smith Barney, HSBC Securities and FTN Financial prior to joining Southwest Securities, the company noted in a corporate release. Rose served most recently as ABS/CMBS trader and director of securitization syndicate at RBC Capital Markets in New York. He also managed ABS trading at ABN Amro, Sutro and Nesbitt Burns. Write to Diana Golobay.
Southwest Expands Fixed Income Trading
Most Popular Articles
Latest Articles
Did lower mortgage rates slow housing inventory growth?
After two weeks of significant increases, my model for inventory growth with higher mortgage rates came crashing down last week.
-
Labor market report is good news for mortgage rates
-
Virginia Realtors: Zillow’s touring agreement may not be legal
-
Low inventory creates challenging conditions in North Carolina’s housing market
-
Tri-state area housing shortage could cost the region economically
-
Remote reverse mortgage counseling now permanently permitted in Massachusetts