Morningstar Snags Nomura’s Head of CMBS Research



Morningstar Credit Ratings has hired Lea Overby as a managing director in its structured finance research group, Commercial Observer can first report.

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Overby joins Morningstar from Nomura Securities, where she spent the past six years as head of commercial mortgage-backed securities and asset-backed securities research. Prior to Nomura, Overby was responsible for management and surveillance of a large CMBS and ABS portfolio for Bank of NY Mellon Treasury.

In the newly created position, Overby will lead Morningstar Credit Ratings’ structured finance research initiatives and focus on building Morningstar’s thought-leadership presence with investors, issuers and arrangers in. Additionally, Overby will support the Morningstar analytical teams in their transaction-based analysis of CMBS, ABS, residential mortgage-backed securities and collateralized loan obligations.

Last year, Morningstar hired Stephanie Mah as a director in the structured finance research group from Fitch Ratings. Mah will report to Overby as of her start date on Aug. 1. Overby will report to Vickie Tillman, the president of Morningstar.