Angelo, Gordon & Co. bolstered its structured credit team with the addition of two senior executives. Nicholas Smith, former Head of Non-Agency Residential Mortgage Trading and Asset-Backed Securities Trading at Bank of America Securities, has joined the Firm as Managing Director to lead the Firm’s whole loan business and expand the team’s capability across multiple asset classes. Rodney Hutter, former Managing Director and Head of Originations in the Structured Lending Group at Waterfall Asset Management, has joined the Firm as Managing Director responsible for private credit origination. Based in New York, Messrs. Smith and Hutter report to T.J. Durkin, Angelo Gordon’s co-Head of Structured Credit.

“We are pleased to welcome Nick and Rod to Angelo Gordon,” said Mr. Durkin. “Nick’s deep expertise in the residential mortgage ecosystem of origination, trading, underwriting and lending, coupled with Rod’s 25 years of experience originating, structuring and managing private specialty finance investments will be invaluable to our team as we continue to grow our residential and consumer debt business and related capabilities. We look forward to leveraging their collective skillsets and relationships across the asset class as we seek to capitalize on what we believe to be a strong pipeline of opportunities ahead.”

Mr. Smith added: “Since establishing its structured credit business over 15 years ago, Angelo Gordon has built an all-weather platform well-recognized for its proven, research-driven approach and substantial investment activity across collateral types. I am excited to work closely with T.J. and the entire team to source and execute on unique investment opportunities that meet the needs of our investors.”

Mr. Hutter continued: “I am excited to help Angelo Gordon build upon their deep roots in structured credit by bringing to bear my experience in this complex asset class at a time when there is a need for unique private asset-based financing solutions.”

The addition of Messrs. Smith and Hutter to Angelo Gordon’s structured credit team follows the Firm’s December 2020 hiring of Robert Kennelley as Managing Director and the head of business development for Angelo Gordon’s structured credit investment strategies. Mr. Kennelley brings alternative credit investment, asset allocation and portfolio implementation experience to Angelo Gordon. Previously, he was a senior member of the Credit & Event Driven investment team within the Alternative Investments & Manager Selection Group at Goldman Sachs.

Josh Baumgarten, co-CEO, co-CIO and Head of the Firm’s Credit business, concluded: “We believe the expansion of top talent in our structured credit team is a testament to our commitment to continue seeking to generate strong risk-adjusted returns for our clients across the asset class. The additions of Nick, Rod and Robert build on an already best-in-class structured credit platform that is positioned to serve the markets and our investors with opportunities across the entire liquidity spectrum.”

Nicholas Smith Biography

Mr. Smith brings nearly 20 years of specialized structured credit trading and capital markets experience to Angelo Gordon. At Bank of America Securities, he led a team of over 30 professionals and built and oversaw the organization’s Whole Loan Purchase Program. Previously, he served as Director on Guggenheim Securities’ Residential Mortgage Trading and Banking team and Bear Stearns’ Residential Mortgage Finance and Trading team. He graduated from Colgate University with a degree in Mathematical Economics.

Rodney Hutter Biography

Mr. Hutter has 25 years of business development and transaction experience in structured finance and direct lending across a broad spectrum of specialty finance companies. Prior to Waterfall Asset Management, he spent nearly a decade at Fortress Investment Group, where he served as a Managing Director within the firm’s Rediscount Lending Group. Previously, Mr. Hutter was a Vice President at DZ Bank AG and held various positions at Merrill Lynch & Co. and Deutsche Bank Securities. Mr. Hutter earned a Bachelor of Science in Accounting from Pennsylvania State University.