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Latest news
Deal raises questions about whether transaction was done at arm's length
Joanna Chan is taking on the role of head of strategic capital
Key points of contention include the investor sanctions regime and the definition of 'resilience'
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Merrill Lynch cut approximately 25 people from its structured products group this week and further paring and reorganization will happen soon, said a Merrill official close to the group.
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Carmel, Ind.-based asset manager 40/86 Advisors is taking its first step in determining if it wants to engage in a full-blown investment of collateralized loan obligations managed by other managers.
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Ricardo Horowicz, formerly a senior v.p. at Countrywide Securities, has moved to First American CoreLogic.
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New York law firm Grais & Ellsworth is trying to get investors in securities backed by Countrywide loans to insist Countrywide pay for modifying loans under a recent settlement of predatory lending charges.
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Calyon has appointed Philippe Rakotovao as head of flow credit trading, replacing former credit head Neil Neilinger. Neilinger, who used to run the global corporate debt syndicate desk at Dresdner Kleinwort in London, left Calyon last month. Rakotovao reports to Jim Siracusa, global head of debt and credit markets.
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Baylor University's endowment is looking at the bank loan and distressed-debt markets following the upheaval in the financial markets.
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Prudential Fixed Income Management has hired Sara Bonesteel to head up an effort to find new opportunities for structured asset management.
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Royal Bank of Scotland has appointed Brian Reid as its global head of financial institution sales in London, reporting to John Hourican, chief executive of global banking and markets.
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Former Morgan Stanley portfolio manager Stefania Perrucci has started up a new company named New Sky Capital that will buy mortgage-backed securities and mortgage whole loans trading at distressed prices.