The 20 Rising Stars of Fixed Income 2008

(ASF) this past December. In his new role, he advises the organization’s members on various legal challenges and advocates on behalf of the securitization industry before policymakers. Arguably, no one has done more for the securitization industry in the past year than Deutsch. Among his many accomplishments, he played a high-profile role in the adoption of the widely publicized ASF framework, which helps servicers streamline the evaluation of their subprime adjustable-rate mortgage portfolios and fast-track borrowers more efficiently into appropriate modification and loss mitigation solutions. “Modifications and rate reductions generally are not done in the business world,” he said. “But from a policy and business standpoint, we realized there was a sweet spot between protecting investors’ interests and keeping owners in their homes.” In addition, the framework recommends standards for servicers to use when reporting loan modification activity to securitization investors. Deutsch also has served as an important industry liaison with the SEC throughout the post-Regulation AB transition period. In addition to being involved during the comment period, he has helped to educate the ASF’s constituents on the requirements of the new regulation, develop model provisions to assist in its implementation and get clarifications on ambiguities in the rule’s language. Deutsch credits a good portion of his recent success to his boss, George Miller. “He is extremely competent and knowledgeable about the industry,” he said. “More importantly, he has been a great mentor in transferring that knowledge and experience to me.” Prior to joining the ASF in 2004, Deutsch served as a lawyer in the capital markets department of Cadwalader, Wickersham & Taft, where he represented issuers and underwriters in various structured finance offerings. Before that, he served as an associate at McKee Nelson, where he focused primarily on residential mortgagebacked securitizations. 4. TOM DEUTSCH 5. ROMAN GAISER High-Yield Fund Manager Threadneedle, London Age: 38 Education: University of Paris Dauphine (Post-Graduate Degree in International Economics and Finance) Mentors: Falk Cramm, Head of Risk, Investitionsbank Berlin; Peter Harvey, Director and Head of Credit, Cazenove Capital Management Gaiser has managed retail and institutional high-yield bond funds for Threadneedle since joining the firm in 2005. He manages the Threadneedle European High-Yield Bond Fund and is the lead manager for the Threadneedle Credit Crescendo Fund, a European leverage finance hedge fund, as part of a team of two fund managers and three analysts. He also is responsible for a number of institutional mandates. Gaiser chose the fixed-income path because he likes the challenges the market presents. “Driven by macroeconomics, fixed income is more analytical and mathematical than equities,” he said, noting that the market best utilized the skills he learned in college. 4. TOM DEUTSCH Deputy Executive Director American Securitization Forum, New York Age: 34 Education: Washington University in St. Louis (B.S. in Business Administration, B.A. in Political Science); London School of Economics and Political Science (M.Sc. in Economic Regulation); University of Pennsylvania (J.D.) Mentors: Daniel Ingberman, Principal, LECG; George Miller, Executive Director, American Securitization Forum; Larry Rubenstein, General Counsel, Wells Fargo Asset Securities Deutsch was promoted from associate director to deputy executive director of the American Securitization Forum MAY 2008 FIXED INCOME RISING STARS 15

Table of Contents Feed for the Digital Edition of The 20 Rising Stars of Fixed Income 2008

The 20 Rising Stars of Fixed Income 2008 Table of Contents From Bad to Worse Another Disappointing Year for Comp How Do You Rate? 20 Rising Stars of Fixed Income Mentors’ Page

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.