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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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The Securities Industry & Financial Markets Association today (Tuesday) launched the European Covered Bond Dealers Association (ECBDA), which aims to provide a platform for market makers to advocate their position in the primary and secondary markets.
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Henning Rasche is leaving Eurohypo, where he was a member of the board of managing directors. He will, however, remain president of the Association of German Pfandbrief Banks (vdp).
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In brief: Royal Bank of Scotland has appointed Allen Rad head of covered bond trading. The Cover revealed in July that he had left Dresdner Kleinwort to join the UK bank.
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Wally Höfer-Neder, head of European covered bond origination at Deutsche Bank and one of the best known characters in the market, has left the bank for health reasons.
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Bo Heide-Ottosen, the Hypo Real Estate Holding and Depfa board member central to the group’s treasury and public finance activities, has left the group in the wake of its rescue by a consortium of German banks and the German government.
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• $3.9bn Q3 loss racked up after Alt-A hedging failure • $30bn plan to spin-off REI comes too late • Fannie and Freddie bailout euphoria wiped out Lehman Brothers was front, back and centre of events in the credit market this week and at the close in New York yesterday rumours gathered strength that Bank of America is poised to rescue the ailing investment bank.