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Securitization People and Markets

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  • Standard Chartered warns that bank reform proposed by the Independent Commission on Banking raises the risk of financial institutions failing.
  • The U.K.-based law firm Linklaters has appointed Jim Rice, a structured finance and securitization partner, to succeed John Tucker as head of its finance and projects division.
  • There have been few bids for the roughly 600 branches of Lloyds Banking Group, according to sources.
  • Rep. Bill Posey (R-Fla.) has introduced a bill that would allow banks to count modified mortgages as an asset and not a liability toward meeting higher capital requirements.
  • Trepp has acquired REITCafe from Euromoney Institutional Investor, giving the provider of information on commercial mortgage-backed securities an additional source of market data.
  • Roland Berger, the German consulting firm, is looking to start a credit rating agency to compete with Moody’s Investors Service, Standard & Poor’s and Fitch Ratings.
  • JPMorgan Worldwide Securities Services has rehired Mark Tidy to head securities lending sales and business development for Europe, the Middle East and Africa.
  • A federal judge in Los Angeles has sharply reduced the claims in a case against Countrywide Financial Corp. over soured mortgage-backed securities from $351 billion to just $2.6 billion.
  • Prudential Mortgage Capital and affiliated funds of Perella Weinberg Partner’ Asset Base Value strategy have partnered in a joint venture that will original commercial mortgages for future securitizations.