Latest news
Latest news
Courtman to replace Rob Reynolds, the platform's current CLO head
PAG also hires new vice president
Agreement on the EU package could run to December, senior lawyer told conference
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Index provider Markit has teamed up with commercial mortgage backed securities data and pricing specialist Trepp to launch total return swaps (TRS) on a cash CMBS index. The initiative targets several gaps in the market, by boosting returns for CMBS investors, providing a hedging tool for originators and giving big corporate clients access to a market otherwise denied them by punitive US tax rules. -
Credit Suisse is marketing an insurance-linked security to hedge its operational risk, a class of losses which usually include rogue traders, fraud, and IT failures, at the same time as it announced an unauthorised build-up of positions in its illiquid and distressed trading businesses.
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Franklin Templeton Investments has launched a fixed income fund that will include a range of derivative strategies, other assets such as securitized products, and the ability to go long or short.
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BNY Mellon has hired a new head of its corporate trust business in Europe, the Middle East and Africa (EMEA), as it aims to develop its interests in the loan market.
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Bank of America Merrill Lynch has put two bankers in its EMEA mortgages business at risk of redundancy.
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Some European parliamentarians remain to be convinced of the need to revive the region’s securitization market, but a new cross-industry position paper could help change their minds.
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Virgin Money and Shawbrook posted impressive jumps in underlying profits this week, casting the UK’s challenger banks in a positive light just as some of the country’s biggest lenders contemplate falling revenues.
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Michael Piwowar, Commissioner of the US Securities and Exchange Commission, was critical of US risk retention regulations in a keynote address on Tuesday, blaming “bureaucratic self preservation” for regulators’ one-size-fits all approach to the market.
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Lack of liquidity, not weakened credit conditions, has been the driving force sending marketplace lending securitization spreads wide by the hundreds, panelists at ABS Vegas said on Monday.
