Gary Wang and Karl Partch have joined global financial firm Cantor Fitzgerald as managing directors, effectively expanding the company's whole loan sales and trading team.
In their new positions, Wang and Partch will develop Cantor's whole loan trading platform and focus on portfolio disposition, evaluation and structuring advisory. They [both] will be based in Los Angeles and will report to Cass Tokarski, senior managing director and head of mortgage and asset-backed securities in sales and trading.
‘We view whole loans as the next scalable trade, as investors start to look for alternatives to a shrinking legacy non-agency [residential mortgage-backed securities] market,’ says Tokarski. ‘Wang's and Partch's background and industry contacts are a tremendous asset to Cantor, and we expect them to strengthen our ability to cover clients in California, one of the biggest mortgage markets in the U.S.’
Wang previously served as senior vice president of loan trading at Wunderlich Securities, where he managed the whole loan trading desk. Prior to this, he oversaw the conforming conduit trading desk at WaMu Capital Corp.
Partch formerly served as senior vice president of loan trading at Wunderlich Securities. In addition, he held a number of senior trading positions at Countrywide Capital Markets and Bank of America Merrill Lynch.
