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Securitization People and Markets

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  • Four firms have indicated they are interested in acquiring the more than 630 branches of Northern Rock ahead of the Friday deadline.
  • Mortgage arrears at Northern Rock Asset Management climbed 9% in the first six months of the year compared with the same period in 2010, while those at Bradford & Bingley tumbled 30%, according to UK Asset Resolution.
  • Goldman Sachs and Citigroup could stand to take a big loss on their pulled offering, a $1.5 billion commercial mortgage-backed securities deal, GSC 2011-GC4.
  • Edward Gainor, partner in Bingham McCutchen’s structured transactions group and pioneer in structured finance, has died from a heart attack.
  • Alvin Sarabanchong will start Monday at Sandler O’Neill as managing director focused on helping the firm expand its whole loan trading capabilities.
  • Credit Suisse says it will eliminate 2,000 jobs after reporting a more than 50% drop in earnings in investment banking.
  • Société Générale has named Bruno Prigent as global head of Société Générale Securities Services, effective Sept. 30.
  • Credit Suisse says it will eliminate 2,000 jobs after reporting a more than 50% drop in earnings in investment banking.
  • Credit Suisse says it will eliminate 2,000 jobs after reporting a more than 50% drop in earnings in investment banking.