Excess Spread — The bank of the future, big in Japan, not dead just resting

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Excess Spread — The bank of the future, big in Japan, not dead just resting

Owen Sanderson's avatar
  1. Owen Sanderson
12 min read

Banking but better

Would you rather be a managing director in an investment bank, or a partner at an alternative asset manager like Blackstone or Apollo? It’s not a theoretical question, and plenty of senior securitisation people have made the switch — to take three at random, Dan Pietrzak used to run Deutsche’s securitised products business, and now heads private credit for KKR. Jesus Rio Cortes used to be a senior structurer at Bank of America, and now runs European resi mortgage activities at Apollo. Michael Dryden, formerly boss of Credit Suisse’s global securitised products biz, now heads structured products at Sixth Street. I could go on but you get the idea.

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