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Latest news
Vida Bank is also building up its funding team
Bank’s relationship with SpringCash is ‘commercial’
Stefan Jost will take over the role
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BNP Paribas has slashed its bonus pool for 2011 by 50% after pretax profit at corporate and investment banking plunged 40% in the fourth quarter.
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Société Générale reduced risk-weighted assets in corporate and investment banking by 13% last year by dumping EUR16.1 billion ($21 billion) of legacy assets, including a EUR476 million ($620.7 million) write-down in the fourth quarter from positions on U.S. residential mortgage-backed collateralized debt obligations.
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The U.K.’s Financial Services Authority has announced that Margaret Cole will leave the FSA as managing director and board member after nearly seven years.
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Moody’s Investors Service has placed six major global banks on review for possible downgrade because of new economic and regulatory challenges that could have a negative impact on their profits and future growth.
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Law firm Chapman and Cutler last week hired six lawyers from the Washington D.C.-based structured finance team of Orrick, Herrington & Sutcliffe, with expectations of adding four more to the group in the next week or two, according to Chapman chief executive partner Tim Mohan.
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Alternative investment manager Aequitas Capital Management has expanded its asset-backed securities team with the hiring of Jonathan Wease, a v.p. of portfolio management and Brian Zeck as a managing director it its asset-management business.
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Spain’s Santander is close to deal to sell a EUR700 million ($927.8 million) portfolio of foreclosed properties to Morgan Stanley, according to the Spanish newspaper Expansion.
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UBS is said to be planning to issue contingent capital bonds to help raise capital to meet higher core Tier 1 capital standards, following the example of Credit Suisse and Rabobank.
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Denmark’s Nykredit, the largest issuer of mortgage-backed covered bonds in Europe, is planning to hold auctions this month and in March to refinance 109 billion kroner ($19.3 billion) of the bonds.