Bear To Boost European ABS/CMBS with Hires

Bear Stearns International Ltd. has hired five asset-backed securities professionals in Europe, including Adam Toft, a managing director the company said will "play a significant role in the development of the commercial mortgage department."Mr. Toft, who previously headed the European Middle East and Asian commercial mortgage-backed securities group at Moody's Investors Service, will be responsible for originating, structuring and distributing real estate loans through capital markets using CMBS and through the banking market via loan syndications. Also hired by Bear for the European ABS group were Peter McAnally and Marie Fernandez, formerly of Halifax Bank of Scotland, who will be in charge of euro-denominated real estate loans; Michael Dirnegger, who previously worked for RZB Bank, who will be in charge of originating real estate loans, collateralized debt obligations and residential mortgages in Germany; and Jesus Rio Cortes, formerly of Calyon, who Bear has hired as part of a residential mortgages team focusing on Spain and Portugal.