Carl Bell was named principal and senior portfolio manager at Smith Breeden Associates, according to a news release from the fixed-income money manager.
Mr. Bell returns to Smith Breeden after 16 years; he was director of research at Smith Breeden until 1997, when he left to become managing director and team leader for structured credit at Putnam Investments until 2011. He left Putnam to co-found real estate investment management firm Five Ten Capital with Rob Bloemker, CEO.
Mr. Bell was a principal at Five Ten, Mr. Bloemker said in an e-mail.
“Carl primarily worked within Five Ten Financial, which was focused on lending to real estate investors,” Mr. Bloemker wrote. Mr. Bell will not be replaced.
At Smith Breeden, Mr. Bell will focus on structured credit, including securities backed by residential and commercial mortgages and consumer receivables.