Bank of America has further shuffled responsibilities among the leadership in its securitization group. Dan Stercay has been named head of the day-to-day management of the firm’s asset-backed commercial paper and asset-backed securities origination and structuring. Stercay reports to Whit McDowell, head of ABCP, asset-backed securities origination and structuring, as well as mortgage finance. It could not be determined who had been in the position Stercay is now filling.
Stercay’s former role as head of structured finance advisory services is being taken over by Dan Goodwin. Goodwin reports jointly to Bill White, global head of the financial institutions group, and George Ellison, head of global structured products.
Earlier this month it was revealed that Patrick Beranek, head of primary market asset-backed securities activities, had also taken over as head of consumer ABS secondary market trading, in addition to his existing duties (TS, 8/11). Chris Connors, the former head of that group, had switched
to a structured products sales role.
