Richard McKinney joined D.E. Shaw as a managing director to oversee the hedge fund managers newly formed asset-backed securities unit, confirmed spokesman Paul Welsh. Mr. McKinney will report to Max Stone, managing director and a member of the firms six-person executive committee.
Mr. McKinney headed the securitized products business at investment bank Lehman Brothers, Calls to Lehman Brothers were not returned by press time.
D.E. Shaw had $39 billion in assets under management as of July 1.