WEIL, GOTSHAL & MANGES PROMOTES STEVEN ONG TO PARTNERSHIP
Weil Gotshal is pleased to announce the promotion
of Steven Ong to the partnership, with effect from 1 June 2003.
Currently a senior associate (of-counsel) within the securitisation
group in London, Steven has been with the firm for 7 years.
Head of the group Jacky Kelly said “Steven’s promotion
reflects the continuing expansion of the London securitisation practice
and the increasing demand for our legal services in this area.”
A former real estate lawyer, he has extensive experience in residential
and commercial property related securitisation. In addition, Steven
advises clients in the mortgage industry on portfolio sales, acquisitions
and other commercial transactions. He recently took a lead role
on two significant mortgage backed securitisations. On the first,
he represented Barclays Capital and Deutsche Bank as joint lead
managers of the £1,000,000,000 equivalent issue by RMAC 2003?NS1
PLC of multicurrency notes backed by non?conforming mortgages originated
by GMAC-RFC Limited. On the second, he acted for joint lead managers
Barclays Capital and Morgan Stanley on the issue by Residential
Mortgage Securities 14 plc (RMS 14) of £450,000,000 equivalent
of multicurrency notes.
In the last year the London securitisation team has acted on RMBS
issues totalling almost £4 billion and Steven will be responsible
for developing this highly successful practice in London.
Steven also has extensive experience in CDOs, whole business securitisation
and the securitisation of other consumer assets.
Steven’s career has included lengthy secondments to the securitisation
and principal finance teams at Greenwich NatWest and Lehman Brothers.
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