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Securitization People and Markets

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  • The U.K. Institute for Public Policy Research says the Financial Services Authority mortgage reform does not go far enough to regulate the market.
  • Germany’s HSBC Trinkhaus is said to be looking to acquire the structured finance and corporate customers business of WestLB, the German lender.
  • Macfarlanes, the U.K. law firm, has hired Rachel Kelly as a structured-finance and debt-capital markets partner, effective next month.
  • Holliday Fenoglio Fowler has named Andrew Seng as managing director in the mortgage-banker’s debt-replacement group.
  • Allied Irish Banks is selling €700 million book ($986.6 million) of its €7.6 billion ($10.71 billion) U.S. commercial mortgages to The Blackstone Group and Wells Fargo.
  • UBS has tapped CB Richard Ellis to search for 750,000 square feet of office space in Manhattan, a move officials at the bank said could include relocating the bank’s securitization, larger fixed-income platform and equities teams out of its existing base in Stamford, Conn.
  • Talk of two more commercial mortgage-backed deals in Europe has surfaced, indicating the region’s stalled CMBS sector is fighting to re-emerge.
  • NIBC is keeping securitization in its future funding arsenal, but it is plotting a temperate role in the market.
  • The trustee overseeing the disputed sale of GSC Partners’ $8 billion collateralized loan obligation platform asked the bankruptcy judge yesterday to reject a minority lender plan to install Sankaty Advisors in an oversight role on the CLO contracts.