Deutsche Bank has appointed Sal Mirran as head of residential mortgage-backed securities (RMBS) for Asia-Pacific. Mirran, whose appointment is effective immediately, joins Deutsche Bank from Fannie Mae.
He is based in Hong Kong and reports regionally to David Lynne, head of global rates Asia, and globally to Doug Naidus, global head of RMBS.
In this new role, Mirran is responsible for building a local mortgage origination and risk management platform across Asia, Japan and Australia, and providing key clients in the region with access to Deutsche Bank's RMBS platform in the US.
"Expanding our Asia-Pacific RMBS platform is a key focus for the coming year and Sal's long experience in all aspects of mortgage origination, distribution and investment make him an ideal candidate to steward this growth", said Lynne, head of global rates for Asia ex-Japan.
Mirran most recently ran corporate strategy at Fannie Mae in Washington, where from 2008 he led strategy and policymaker engagements, providing solutions and research related to volatility in the US mortgage market. This included deliberations with the US Treasury, as well as engagements with Congressional staff, representatives and the incoming administration regarding mortgage market conditions, corrective efforts and new approaches.
In the 16 years prior to the Fannie Mae job, Mirran was involved in many aspects of corporate, structured and consumer finance. He built and managed businesses for First Union Securities, Wachovia Securities' predecessor, and restructured and managed mortgage capital markets for Bank of America's consumer real estate business. He began his career in energy and structured finance at First Chicago.