Pressprich Expands CDO Biz

The investment firm R.W. Pressprich & Co. Inc. plans to expand its collateralized debt obligation business into the primary market and has hired new staff members with mortgage-related experience to further that effort.The New York firm has hired Patrick Gallaway, who was previously head of U.S. agency CDO origination and structuring for Barclays Capital, to lead the expansion of its CDO business from the secondary market into the primary market. Pressprich has also hired as part of its new CDO effort: Gerard O'Connor, who was previously a member of the agency CDO Group at Barclays Capital, with responsibility for CDO execution; and Arturo Cifuentes, who was previously head of worldwide operations for CDO Research at Wachovia Securities.