CSFB Revamps Mortgage-Related Units

Credit Suisse First Boston has restructured the management of its mortgage-related securities units, MortgageWire has confirmed.Andy Kimura, who previously co-headed CSFB's residential mortgage-backed securities desk with Matthew Ruppel, was one of three executives named to head the company's newly integrated structured products unit. The restructuring, which took place late last week, integrates RMBS, asset-backed securities, and commercial MBS as well as the risk management, sales, and trading of those products, according to a company spokesman. In addition to Mr. Kimura, Mike Marriott and Ben Aitkenhead have been named to co-head the new unit. Mr. Marriott previously had a managerial role in CSFB's ABS and CMBS business, and Mr. Aitkenhead has a managerial role related to the sales force for the three product groups, the spokesman said. Meanwhile, Mr. Ruppel has reportedly left the company, which -- like many -- has suffered RMBS trading losses since this summer when bond market conditions changed, according to the New York Sun and The Wall Street Journal. Mr. Ruppel's departure is connected with an investigation into the losses, the WSJ said. But the losses themselves are connected with another trader, Rasekh Huq, according to the Sun and the WSJ. Neither Mr. Huq nor Mr. Ruppel could be reached for comment by MW's deadline.