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Stefan Jost will take over the role
New role includes digital assets
Sugrue specialised in covering the insurance and reinsurance sectors
Executive is moving to more senior role
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HarbourVest Partners this week detailed plans for a new fund to invest in the debt of European private equity-backed mid-market companies, offering institutional investors an easier way of accessing the asset class and relieving the pressure on bank lenders.
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Former top management at Citi testified before the US government’s Financial Crisis Inquiry Commission on Thursday, where they claimed they were not informed of the bank’s huge exposure to subprime mortgages through super senior CDO tranches until the autumn of 2007, shortly before Citi took multi-billion write-downs on the positions.
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Royal Bank of Scotland has hired three senior advisers in Frankfurt, Dubai and Madrid to work with its global banking and markets division. These include the former chief executive of Fraport, a German transport group that operates Frankfurt airport, and a senior adviser from Citi.
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Adam Gaydon, head of flow syndicate at Société Générale in London, has confirmed that he has resigned from the bank to return to his native Australia and has said he will explore options outside of the banking sector.
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The Bank of England’s director for financial stability laid out a case for hard limits on the size financial institutions this week and suggested that the system might be better off with the biggest banks holding just double-digit billions of dollars of assets.
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Citi this week reshuffled its loans team line-up and promoted Ashu Khullar to co-head of loans for Europe, the Middle East and Africa with Richard Basham. They will take on responsibility for emerging market loans, while Paul Simpkin will take sole charge of the leveraged finance and high yield business.