BNP Shutters CLO/CDO Of ABS, Third Party Whole Loan Groups

BNP Paribas in New York closed its third party whole loan securitization and collateralized loan obligation/collateralized debt obligation of asset-backed securities businesses late Friday.

  • 03 Dec 2007
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--Cathy Cunningham

BNP Paribas in New York closed its third party whole loan securitization and collateralized loan obligation/collateralized debt obligation of asset-backed securities businesses late Friday. Officials at BNP sent TS the following statement, but declined further comment. “Market conditions have led us to make minor changes to our securitization business in New York, which have resulted in single digit redundancies. However, we continue to operate in the securitization business in New York, where we see many future opportunities.”

Gregory Lattanzio, head of whole loan trading, David Pawlowski, director in the whole loan trading group and Robert Dempsey, whole loan trader, were among those let go on Friday, according to sources familiar with the situation. In addition, four of BNP’s CDO banking team are said to have been let go.Lattanzio, Pawlowski and Dempsey could not be reached for comment.
  • 03 Dec 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 Citi 117,261.12 337 11.09%
2 Bank of America Merrill Lynch 94,721.79 272 8.96%
3 JPMorgan 92,612.23 269 8.76%
4 Wells Fargo Securities 82,597.19 239 7.81%
5 Credit Suisse 69,442.99 183 6.57%