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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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Broker-dealer Amherst Securities has hired long-time research honcho Peter DiMartino.
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Broadpoint Capital structured products traders Viru Raparthi and Maneesh Awasthi earlier this week left the company.
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USA Recovery, an alliance of seven financial workout firms and special servicers, has been formed in an effort to bring together their combined experience in the arena of debt recovery and restructuring.
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Structured finance veteran Bill Tomljanovic has launched Labrador Consulting, an advisory firm to financial services companies.
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Ex-Lehman Brothers staffers, acquired by Nomura Holdings, could be ready to start within the month, according to a Hong Kong-based managing director of sales at the bankrupt firm.
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Credit spreads are expected to continue to widen over the next three months, although there seems to be more disagreement amongst portfolio managers, according to a report by the International Association of Credit Portfolio Managers, which will be released today. -
Bill Hughes has been named head of leveraged loan capital markets, Americas at the new Barclays Capital. He previously held the same role at Lehman Brothers. Peter Toal has been named head of leveraged capital markets, Americas. Toal comes from the Lehman side as well.
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Calyon has hired Duke Choi to head up the French bank’s fixed-income markets for Korea.
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JPMorgan’s third quarter income took an 84% hit on write-downs tied to illiquid assets, the bank’s acquisition of Washington Mutual and rising provisions for loan loss provisions. The banking giant incurred $3.6 billion in write-downs and $640 million in losses from last month's acquisition of the Seattle thrift as its home-lending portfolio continued to deteriorate. "Given the uncertainty in the capital markets, housing sector and economy overall, it is reasonable to expect reduced earnings for our firm over the next few quarters," said James Dimon, chairman and chief executive, in a news release.
