SOURCE: WestLB AG

November 02, 2007 16:46 ET

WestLB Expands Its Global Securitization Team by Adding Four Additional Members for the Western European Region

NEW YORK, NY--(Marketwire - November 2, 2007) - WestLB's Global Securitization Group announced today it is expanding its securitization business, bringing in a new London team to bolster its origination capabilities in Western Europe.

The team, led by Stafford Butt, former Bank of Tokyo-Mitsubishi UFJ head has been assigned a mandate throughout the region, working alongside Matthias Renner's German Securitization group, which operates out of the Bank's Düsseldorf headquarters, and David McCaig's Global Emerging Markets team.

Butt has been joined at WestLB by quantitative specialist David Moore and former lawyer Chris O'Hara, while Paolo Cerboncini has moved from McCaig's team to provide Southern European expertise. The team reports to New York-based Global Head of Securitization, Brian Statfeld.

Despite the difficulties being experienced in the industry, Butt sees the current market conditions as an opportunity. "WestLB has been very successful in securitization in North America, the emerging markets and its German speaking base, but this new focus on Western Europe fills a gap in the bank's exposure profile. By utilizing the bank's balance sheet, as well as the recovering conduit and term markets, we intend to capitalize on the funding gaps which we believe will ensue from the credit crunch," Butt says.

Statfeld and Butt anticipate adding to the team with further strategic hires in the new year.

"We intend to continue building upon our strengths and broaden our business throughout the Western European market," says Statfeld. "Having Stafford, David, Chris and Paolo on board adds significant value to our Global Securitization team."

WestLB is recognized as one of the premier ABCP conduit administrators in the market, providing conduit financing across a broad range of consumer, commercial and esoteric asset classes.

Equipped with securitization professionals in New York, Düsseldorf, London and Tokyo, WestLB's strong distribution capabilities provide issuers access to the global capital markets for public and private term asset-backed transactions as well as the asset-backed commercial paper market.

About WestLB Capital Markets

WestLB develops sophisticated structured solutions through a team of highly experienced investment banking and capital markets professionals. WestLB has a long-standing presence in the corporate, structured and asset-backed financing sectors supporting clients' needs with capital commitments, advisory services and innovative financing solutions. The bank's global relationships, coupled with its unique understanding of local economies, industries and cultures, help WestLB bankers consistently deliver high quality advice and service.

About WestLB

WestLB AG is one of Germany´s leading financial services providers and offers the full range of products and services of a universal bank, focusing on lending, structured finance, capital market and private equity products, private banking, asset management, transaction services and real estate finance. WestLB has total assets of EUR 295.9 billion, as of August 30, 2007. For more information, please visit www.westlb.com.

In the United States, certain securities, trading, brokerage and advisory services are provided by WestLB's wholly owned subsidiary WestLB Securities Inc., a registered broker-dealer and member of the NASD and SIPC.

Contact Information

  • Contact:
    WestLB AG -- Group Communications -- Americas

    Ashweeta Durani
    Ph: 212-852-6310
    Email Contact

    or

    Connie J. Kain
    Ph: 212-597-1439
    Email Contact