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Goldman Sachs has lured David Lehman from Deutsche Bank to head its CMBS secondary-trading desk. Lehman replaces James Hiatt, who headed the desk for 10 months before jumping to Credit Suisse First Boston in January. Lehman spent a year at Deutsche, following a stint at Morgan Stanley. At Goldman, he reports to Dan Sparks, who oversees structured products. Mitch Resnick, who had replaced Hiatt on a temporary basis, will transfer to another job at Goldman.
Morgan Stanley and Credit Suisse First Boston have won the lead-manager assignments for the first two real estate securitizations in the Persian Gulf. A joint venture that New Yorkbased Island Capital set up with banks and government entities in the United Arab Emirates plans to launch a residential MBS deal in the second quarter and a CMBS transaction after that. Morgan Stanley will handle the assignments through its...