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Securitization People and Markets

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  • Denver-based CoBiz Financial has announced the formation of CoBiz Structured Finance, which it says will provide asset-based loans to middle-market businesses.
  • German cooperative lender DZ Bank has been the latest to file against JPMorgan Chase for alleged misrepresentations in the offering materials of mortgage-backed securities it sold.
  • The Williams Group has formed Eland Capital, a new unit that will explore structured finance opportunities for corporate, federal, state and local government clients.
  • Austria’s Erste Group Bank is expected to launch a benchmark-size euro-denominated covered bond in the near future, market conditions permitted.
  • Barclays Capital has launched its Fiscal Strength Weighted Covered Bond Indices.
  • Intesa Sanpaolo says it is planning a sale of senior unsecured bonds to raise at least EUR500 million ($655.5 million), which would make it the first such debt deal of its kind in months.
  • The Royal Bank of Scotland has scooped up A.J. Davidson as managing director and head of hybrid capital in the investment bank’s London office.
  • The U.K.’s Financial Services Authority and the Swiss Financial Market Supervisory Authority may impose a penalty on UBS for oversight failures that led to costly unauthorized trades and some $2.3 billion in losses last year.
  • Antonio Horta-Osorio, ceo of Lloyds Banking Group, is said to be planning management changes that would result in his relinquishing some responsibilities in the hopes of avoiding another bout of exhaustion, which led to his recent two-month medical leave.