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D. E. Shaw taps Lehman veteran for new asset-backed group

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As investor interest in opportunities in the credit market soars, D. E. Shaw has nabbed Lehman Brothers veteran Richard McKinney to head of its newly formed asset-backed securities group.

McKinney, a 15-year Lehman veteran, was most recently head of that firm’s securitized products business, where he also managed several other trading groups within the firm’s mortgage and asset-backed groups over the years.

Charged with building up D. E. Shaw’s presence in the asset-backed arena, McKinney will work with Rocky Kurita, a senior vice president who joined the firm from Deutsche Bank in July. “The firm is well suited to the