January 30, 2020 / 9:05 PM / a month ago

MOVES-SG hires Lacerenza in asset-backed products group

NEW YORK, Jan 30 (LPC) - - Societe Generale has hired Mark Lacerenza as head of syndication within the bank’s asset-backed products group.

An SG spokesperson confirmed the hire.

Lacerenza reports to Fouad Farah, head of asset-backed products for the Americas. Lacerenza joined from Natixis and previously worked at Barclays, according to FINRA BrokerCheck.

John Cho previously joined the bank as head of term ABS, the spokesperson confirmed.

The US CLO market, the largest buyers of leveraged loans, recorded the third largest-year of volume ever in 2019 with US$118.7bn of funds arranged, but lagged the record US$127.7bn issued in 2018, according to LPC Collateral data.

US CLO issuance is forecast to fall in 2020, with banks calling for between US$75bn to US$100bn of volume. (Reporting by Kristen Haunss; Editing By Jon Methven)

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