Markit has appointed ex-NewOak Capital executive, Neil McPherson, as a managing director in its New York office to manage and expand its structured finance pricing services. Prior to working for the New York-based asset management firm, McPherson was head of ABN Amro’s asset backed securities syndicate desk and managing director at Credit Suisse First Boston, responsible for asset backed securities (ABS) and collateralised debt obligation research.
In his new role, McPherson will be responsible for Markit’s US residential mortgage backed securities pricing service, its European ABS service and its North American credit default swaps (CDS) of ABS service. He will report to Kevin Gould, president of Markit North America.
Kevin Gould, president of Markit North America, explains that the appointment is part of the vendor’s increased focus on the structured finance markets. To this end, Markit has also recently launched a new web-based CDS portal, which it says can be used as a market monitoring tool for the traditionally opaque CDS market.