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Latest news
Magnetar and Chorus Capital lose experienced pros
Vida Bank is also building up its funding team
Bank’s relationship with SpringCash is ‘commercial’
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A reported share issue by Bank of America may not solve the bank’s projected $45 billion shortfall by the end of next year, says Richard Staite, an analyst at Atlantic Equities.
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MarketAxess has added non-agency residential mortgage-backed securities and commercial mortgage-
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Andrew Platt, a former asset-backed securities banker at UBS, has joined Cantor Fitzgerald’s financial institutions group.
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The Co-operative Bank has joined NBNK in bidding on the 632 branches of Lloyds Banking Group. Virgin Money is also said to be interested in the branches, which Lloyds needs to sell before November 2013 under European Commission competition regulations.
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The Royal Bank of Scotland’s share of the mortgage-lending market has plunged by nearly half in the past 12 months from 14% at the end of the third quarter of 2010 to 8%.
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GAM today launched the GAM Star Cat Bond, a UCITS-compliant fund that will invest in securitized insurance risk through a portfolio of 40 to 50 catastrophe bonds.
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Commerzbank is temporarily suspending new business at Eurohypo, its commercial property finance unit, as part of its effort to reduce its risk-weighted asst by up to EUR30 billion ($41.28 billion), effective immediately.
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The Financial Stability Board has named Mark Carney to head the agency.
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ING Groep has announced that it will reduce its work force by 11%, an estimated 2,000 jobs despite reporting third-quarter earnings that exceeded analysts’ forecasts.