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Securitization People and Markets

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  • The U.S. Securities and Exchange Commission has named Kathy Weiss Hanley as deputy director and deputy chief economist for the SEC’s Division of Risk, Strategy and Financial Innovation.
  • Avis Budget Group has completed it has completed an offering of $650 million of asset-backed bonds with a weighted average interest rate of 3.5%.
  • BNY Mellon is said to be looking to sell Alcentra, its loan and high-yield bond unit.
  • ABN Amro is planning to slash 2,350 jobs over the next three to four years in its ongoing effort to lower costs and improve its capital position.
  • Goldman Sachs has cut the pay of its top-level investment bankers in London in accordance with a provision of their employment contract.
  • Germany’s WestLB is looking to sell WestImmo, its property finance unit, by the end of the year, and is optimistic about unloading its corporate and project-finance business as well.
  • Thomas Huertas is leaving as head of the international division of the U.K.’s Financial Services Authority to join Ernst & Young, the auditor and consultancy.
  • Citadel Securities’ move to shutter its fixed-income sales and trading operations will put in play another band of market pros just as larger firms are laying off.
  • Bjoern Bauermeister has rejoined BNP Paribas as an asset-backed and mortgage-backed securities trader in London a year after leaving the firm.