Wilshire Financial Services Group Inc., Portland, Ore., has hired Michael Hellenbrand as senior vice president in its structured finance group.

Mr. Hellenbrand was a senior managing director at Bear, Stearns & Co., directing the whole loan securitization group. Before joining the firm in 1986, he was president of Investors Conduit Corp., Boston, which securitized mortgage loans.

Wilshire Financial Services Group Inc., with offices in Los Angeles, Beverly Hills, San Diego, London, and Paris, has $752 million of assets.

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