Latest news
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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Wells Fargo Securities and RBS Securities are said to be preparing to offer $1 billion in commercial mortgage-backed securities tied largely to retail and hotel buildings.
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Charles Haldeman is planning to step down as ceo of Freddie Mac but says he will stay on until a successor is found.
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Appaloosa Management is said to be considering buying and selling commercial mortgage-backed securities after Wall Street firms have decided to shrink their exposure to corporate debt.
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Barclays has sold its retail and commercial banking operations in Russia to investors, as the U.K. bank had announced in February.
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Morgan Stanley is selling its Saxon mortgage-servicing unit to Ocwen Financial for $59.3 million plus an estimated $1.4 billion for outstanding receivables.
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UBS, Deutsche Bank and other large investment banks in Europe are seen to be picking up the pace of reducing workforce and selling assets in the face of disappointing earnings and tighter capital regulations.
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Andy Haldane, executive director for financial stability at the Bank of England, has called for a radical overhaul of bankers’ compensation.
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The U.K.’s Financial Services Authority has fined Credit Suisse £5.95 million ($9.49 million) for systems failures related to its sale of structured products.
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Banks in Italy, Portugal and Spain will have to raise the largest proportion of funds for recapitalization, while those in the France, Germany and U.K. may escape having to raise any.