Four Leave BPA To Start New Firm
Four top managers have left Boston Portfolio Advisors, Fort Lauderdale, Fla., to start their own consulting firm and will compete against their former employer.
Those departing BPA in January to form Weston Portfolio Group include SVP Eugene Wetzold and senior directors John VanCora, Dennis O'Brien and Neil Loutan.
Scott Calahan, president and founder of BPA, said the firm will remain in the servicing evaluation business and will continue to build it. "We're in it for the long term," he said.
Mr. VanCora said Weston will focus on asset/collateral management, portfolio sales, servicing review/surveillance work and post-loan closing evaluations.
Mr. VanCora, who will serve as SVP of business development, said Weston's focus will be on the nonconforming niche. "For firms securitizing for the first time, we'll assist them with capital structure, execution and selling residuals," he said.
He added that quality control and fraud reviews will be another key part of Weston's business. Mr. VanCora stressed that the four departed BPA on good terms. "We just felt it was the right time to start a new company," he said.
The firm is headquartered in Weston, Fla. All four are principals in the company. Mr. Wetzold is responsible for the overall management of the new firm with Mr. VanCora focusing on business development.
Mr. O'Brien is director of servicing reviews and surveillance, with Mr. Loutan serving as director of capital markets.
During their careers, Messrs. Wetzold and VanCora have worked for several Wall Street firms including Salomon Brothers, Smith Barney, Lehman Brothers and J.P. Morgan.
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