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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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Barclays Capital is looking to sell German properties that it had acquired in November by exercising a call option on a EUR1.36bn ($1.78 billion) loan made in 2007 to BauBeCon, the German residential landlord.
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Avnet, the electronics component distributor, has dropped Crédit Agricole from its asset-backed revolving credit facility because of the French bank’s current financial situation, according to Ray Sadowski, Avnet’s cfo.
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The suggestion by the UK’s Financial Services Authority that hostile bank takeovers should be banned in the light of the disastrous experience of RBS’s takeover of parts of ABN Amro in 2007 was met with scepticism by senior bankers this week.
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Morgan Stanley announced plans to cut an estimated 1,600 amid a 45% decline in the investment bank’s share price this year.
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The U.S. Securities and Exchange Commission has filed an appeal of the ruling last month by U.S. District Judge Jed Rakoff of New York, who rejected a proposed $285 million settlement between the SEC and Citigroup over of mortgage-backed securities.
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Wells Fargo and CitiMortgage top Fannie Mae’s list of the country’s largest mortgage servicers doing the most to prevent foreclosures in 2011.
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Peter Ma has joined Guggenheim Partners to lead its primary and secondary agency commercial mortgage obligations trading.
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Complying with higher capital requirements will force European banks to come up with an estimated EUR200 billion ($260 billion) in additional funds or cut their balance sheets by around 17%, according to the Boston Consulting Group.
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Fitch Ratings has downgraded five European banks, mainly because of their exposure to troubled euro zone countries through their subsidiaries.