Lynn Hopton and Yvonne Stevens were hired as senior managing directors at American Express Asset Management in a move to add depth to the firms structured finance capabilities. Along with Deborah Pederson in Los Angeles, they will head collateralized debt obligations. The team initially will focus on traditional CDO structures, but later may add a broader range of more specialized products.
Ms. Pederson has been leading an American Express Asset Management team that manages $2.5 billion in high-yield collateralized bond obligations.
Ms. Hopton and Ms. Stevens were managing directors at SunAmerica Corporate Finance and vice presidents of SAI Investment Adviser and SunAmerica Investments, where both managed CDOs. The structured finance team at SunAmerica is deep, said a company spokeswoman, and Ms. Hopton and Ms. Stevens will be replaced through internal promotions likely later this week.