John M. Draghi has been promoted to the position of chief operating officer of C-BASS, a New York-based company that acquires, services, and securitizes, credit-sensitive residential mortgages.In addition, C-BASS named Marc Rosenthal and Noelle Savarese co-heads of capital markets, and Mr. Rosenthal was also named chief investment officer. Mr. Draghi has served as the company's chief investment officer since 1996, and he was previously responsible for all the firm's investment activities as head of capital markets, C-BASS reported. Mr. Rosenthal and Ms. Savarese have been managing directors in the capital markets area, Mr. Rosenthal since 2004 and Ms. Savarese since 2000. C-BASS is an affiliate of MGIC Investment Corp. and Radian Group Inc.

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