Credit Suisse has created a specialty finance group, merging its asset finance capital markets group with its U.S. specialty finance effort. The unit is designed to better coordinate securitization with the firm's debt and equity financing, mergers and acquisitions and asset sales businesses to capitalize on the increasing opportunities in the sector, according to a memo obtained by Securitization News.

Greg Richter, head of asset finance, will lead the new effort and report to Jim Healy, head of fixed income, and Vikram Gandhi, head of the financial institutions group. Credit Suisse officials did not return calls.

The new group will market its services to collateralized debt obligation managers and other investment companies and vehicles, in addition to commercial and consumer finance companies, residential mortgage originators, mortgage real estate investment trusts and industrial/captive finance companies, according to an official close to the situation.

On top of securitization, the new group will offer debt and equity financing, mergers and acquisitions and asset sales, according to the memo. As a result, the firm will have greater coordination between the two groups, and securitization professionals in the asset finance group may work on related transactions, such as unsecured debt offerings, the official said.

As part of the move, the firm has hired Obi Nwokorie as a director and head of structuring in the asset finance capital markets group. He will also work in the specialty finance group and report to Richter. Nwokorie was co-head of ABS structuring at UBS. Douglas Morris, UBS spokesman, did not return a phone call by press time and Nwokorie could not be reached.