RAIT Financial Trust has announced that it is expanding the operations of its registered broker-dealer, RAIT Securities, by hiring two new managing directors: Michael Gaffney and Kenneth Kates.
The company claimed that under their leadership, RAIT Securities plans to expand and grow its institutional fixed income sales and trading business across a range of fixed income securities, with a particular focus on real-estate related structured products.
They join Ron Wechsler at RAIT Securities, who has 30 years of professional real estate experience, including commercial mortgage-backed securities.
Scott Schaeffer, CEO of RAIT Financial Trust, said: Market participants have seen a barrage of newly created broker-dealers attempting to take advantage of current market conditions. RAIT Securities will offer its institutional clients the combined market making capabilities of seasoned professionals and the deep real estate and structured product knowledge and relationships of RAIT’s real estate professionals.”
RAIT Financial Trust manages a portfolio of real estate related assets, provides a set of debt financing options to the real estate industry and invests in real estate related assets.
