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
Selling your home to a family member in 5 easy steps
Selling your home to a family member can be beneficial but requires careful planning and transparent communication. Follow these five steps to ensure a smooth transaction, from agreeing on logistics and assembling a professional team to determining your home’s value and understanding tax implications.
-
FOA reverse stock split goes into effect, appears to have intended impact
-
Senate Aging Committee leaders introduce bill on aging in place
-
HousingWire Pulse: Respondents show cautious optimism about the Q3 housing market
-
US Senate committee approves full funding for Ginnie Mae
-
Connecticut Senator asks HUD for answers on backlog of discrimination complaints