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Securitization People and Markets

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  • Allied Irish Banks is closing is offshore subsidiaries in Isle of Man and Jersey by the end of next year as part of its plan to become a smaller, domestically focused bank.
  • The Rothschild family has announced plans to merge its French Rothschild & Cie Banque and Rothschilds Continuation Holdings, which holds assets including London-based bank N.M. Rothschild & Sons.
  • Ethan Penner, one of the founding fathers of the commercial mortgage-backed securities market, is set to leave CBRE Capital Partners, according to sister publication Real Estate Finance Intelligence.
  • Credit Suisse is said to have dropped the rating by Fitch Ratings from a residential mortgage backed security because of a dimmer view of the RMBS than that taken by rivals Standard & Poor’s and DBRS, according to Paul Taylor, Fitch’s new ceo.
  • Eurohypo’s $740 million portfolio of performing loans has attracted more than 100 prospective buyers.
  • BNP Paribas has named Philippe de Gentile to succeed Jacques-Olivier Thomann as head of structured finance in Switzerland, effective May 1.
  • Jefferies has named Rohit Bansal as managing director and head of distressed and special situations in its fixed-income operations.
  • British lobby group TaxPayers’ Alliance is pressing the U.K. government to step up efforts to unload its stakes in the Royal Bank of Scotland and Lloyds Banking Group even if it means at a loss.
  • Concern that it would not be able to independently meet capital requirements adopted by the Basel Committee on Banking Supervision has prompted Dutch regional lender Friesland Bank to merge with Rabobank, a move that observers say may be followed by other smaller lenders.