Darrell Wheeler Joins Amherst Securities Group as Senior Managing Director; Will Spearhead Company's Move into CMBS SpaceAustin, TX – December 2, 2009 – Amherst Securities Group, LP, a leading financial services provider to institutional investors in the mortgage sector, announced today that veteran mortgage analyst Darrell Wheeler will join the company in early 2010 as a Senior Managing Director and Head of CMBS Strategy. Mr. Wheeler is one of the foremost analysts in the commercial mortgage-backed securities (CMBS) industry, having worked in the sector for more than 20 years and been widely recognized as leading one of the best research teams on Wall Street. Mr. Wheeler will be based out of Amherst’s New York City office.
Mr. Wheeler is joining Amherst to help launch the company’s entrance into the CMBS business. Amherst is currently one of the leading broker-dealers specializing in the U.S. residential mortgage-based securities (RMBS) markets. The company intends to build a comparable operation in the CMBS sector as it moves to help clients navigate a market which is expected to offer many challenges as well as opportunities in the coming years.
“We are very pleased to welcome an executive of Darrell’s caliber to Amherst,” said Sean Dobson, Chairman and Chief Executive Officer of Amherst. “He brings unparalleled knowledge of the commercial mortgage-backed securities industry and a stellar track record for providing the most sought-after advice on Wall Street. Together with Laurie Goodman, who oversees our RMBS strategy efforts, we believe Amherst is now poised to provide more knowledge, insight and reliable data on the entire mortgage industry than any other broker-dealer.”
“This is a very exciting day for Amherst, which is adding one of the leading CMBS strategists at a critical time for our clients,” said Joseph Walsh, President of Amherst. “Just as our clients have relied on Amherst for insight into the turbulent RMBS market, we believe that there is a similar need for access to loan level data, credit analysis and cash flow analytics on commercial securities. Darrell is the ideal person to provide that guidance and we expect him to play a critical role in the build-out of our CMBS team."
Mr. Wheeler most recently served as Managing Director within Citigroup’s Global Corporate and Investment Bank, and Global Head of Securitized Strategy and Analysis at Citigroup, overseeing the ABS research group and serving as the company’s lead CMBS strategist. During his tenure at Citi, which began in 1994, his research team was ranked #1 for six consecutive years in Institutional Investor's Fixed Income Research survey. Mr. Wheeler is renowned for writing early reports warning of decreased rating agency standards and highlighting aggressive loan underwriting, and his research team was the first to develop and release a default prediction model for investors that utilized the underlying loan lease information in conjunction with specific local real estate market forecasts. Earlier in his career, Mr. Wheeler was heavily involved in real estate work outs and asset management, providing invaluable background for the current market environment. Mr. Wheeler was educated in Canada, where he earned an HBA and an MBA from the University of Western Ontario's Ivey School of Business.
About Amherst Securities LP
Amherst Securities Group, LP, is a specialist broker-dealer with more than 15 years experience analyzing and trading residential mortgage-backed securities. Amherst is the principal subsidiary of Amherst Holdings, a holding company for several companies dedicated to assisting institutional investors in the US mortgage markets. Amherst’s experienced professional staff utilizes proprietary analytical tools to provide actionable intelligence to institutional clients that are seeking to understand and profit from the complexities and risks of the mortgage securities market. More information about Amherst can be found on www.amherstsecurities.com.
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