|AUGUST 15, 2011|
|Knight Appoints C. Darren Stumberger Managing Director, Mortgage Trader|
JERSEY CITY, N.J. (August 15, 2011) – Knight Capital Group, Inc. (NYSE Euronext: KCG) today announced the appointment of C. Darren Stumberger to Managing Director, Mortgage Trader, effective following the completion of a standard notice period with his prior employer. Mr. Stumberger joins Knight from Bank of America Merrill Lynch where he was responsible for trading and risk management of reverse mortgages in Global Banking and Capital Markets. At Knight, he will trade mortgage and structured products as part of the ABS/MBS team with a specific focus on the firm’s growing reverse mortgage and HMBS business. Mr. Stumberger will report to Bob Lyons and Al Lhota, Co-Heads of Global Fixed Income.
“Knight is expanding upon the firm’s position as a leading provider of reverse mortgages and HMBS securities in a growing market,” said Mr. Lyons. “Darren’s specialized experience in HMBS will help advance our efforts at a time of great opportunity. Upon joining Knight, he will oversee securitization,
pricing, valuation, trading and risk management.”
Knight's institutional fixed income team provides buy-side clients with research, sales and trading across a broad range of fixed income securities. In ABS/MBS, Knight engages in trading on behalf of clients across consumer ABS, RMBS, HMBS, CDOs, CRE/CMBS and commercial ABS. Knight subsidiary Urban Financial Group is a leading originator of reverse mortgages, or Home Equity Conversion Mortgages (HECMs), and a GNMA-approved issuer of HECM Mortgage-Backed Securities (HMBS).
Mr. Stumberger will be based in New York, phone 212.479.7440.
C. Darren Stumberger Managing Director, Mortgage Trader
Darren Stumberger is a Managing Director, Mortgage Trader, responsible for trading mortgage and structured products.
Mr. Stumberger is a former Director at Bank of America Merrill Lynch in Global Banking and Markets. Previously, Darren worked in trading and analysis of mortgage-backed securities at KBC Group, Goldman Sachs and Morgan Stanley. He began his career in structured finance at Standard & Poor’s.
Darren has a bachelor of science in finance from the University of South Florida and a master of business administration from Baruch College.