Nat'l City Forms Structured Products Group

National City Corp., Cleveland, has announced the formation of a Structured Products Group in its Capital Markets Division that will include a Mortgage Capital Markets Group.Peter J. McCarthy will be senior managing director and head of the Mortgage Capital Markets Group within the larger Structured Products Group, which will be headed by senior managing director Timothy J. Yanoti. "As our mortgage origination efforts have grown over the last few years, we identified a need to have a strong in-house securitization team," said John D. Gellhausen, executive vice president and head of National City's National Consumer Finance Division. "Many of our origination competitors have this capability, and it makes sense for National City to operate one as well." Mr. McCarthy was most recently head of mortgage trading and sales at GMAC Residential Funding Corp., and Mr. Yanoti was in charge of global securitization at General Electric Capital. National City can be found online at http://www.nationalcity.com.