Dorfman will be replaced on an acting basis by Chris Killian, who has been with Wall Street’s largest lobbying group for eight years, according to an internal memo, the contents of which were confirmed by Katrina Cavalli, a SIFMA spokeswoman. She declined to comment further, and Dorfman didn’t immediately respond to an email message.
Dorfman, a former head of the Federal Home Loan Bank of Atlanta and one-time ABN Amro executive, joined the organization in 2010 to head an arm created by the group after the American Securitization Forum broke its affiliation with SIFMA.
The forum faced its own raft of defections this year, including most of its board, amid a dispute between members and the executive director. The interests of companies involved in the market for securities backed by loans and leases are now also being represented by the new Structured Finance Industry Group.
In addition to lobbying policy makers on behalf of members, SIFMA’s role in the securitization market includes setting rules for so-called to-be-announced trading in the government-backed mortgage-bond market, the method used for more than 90% of about $100 trillion in annual volumes, according to Federal Reserve research and Depository Trust & Clearing Corp. data.
