Tony Butler is the Head of Securitization at Electra Capital. Prior to joining Electra, Mr. Butler was Senior Managing Director at RAIT Financial Trust (“RAIT”) where he developed their floating rate bridge loan securitization program which successfully completed eight deals over five years. He also was also responsible for pricing, hedging and securitizing fixed rate CMBS loans for RAIT. Prior to joining RAIT in 2009, Mr. Butler was a Managing Director in the Global Real Estate Strategies group within Wachovia’s Commercial Real Estate Division. From 2005 to 2009, Mr. Butler was a Managing Director and Senior Analyst in the Structured Products Research group of Wachovia Securities, where he covered the CMBS and CRE CDO markets, in addition to overseeing fundamental commercial real estate research. From 1998 to 2005, he was responsible for the pricing, hedging and structuring of loans slated for CMBS execution at Wachovia. Before joining Wachovia, Mr. Butler worked in risk management, export trade finance and portfolio management.