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US covered bonds could fill the triple-A rated void left by the sovereign's downgrade

The EU had a victory this week when the ESM began clearing swaps within the euro area — but CMU still looks like a trophy out of reach

A splurge of Gulf AT1 issuance is coming and issuers are pushing hard on pricing

◆ What happened at the EBRD's Annual Meetings ◆ Romania's new president and the fiscal fright that awaits him ◆ Investors distracted from FIG by US corporates

The speed with which Morgan Stanley has grown its securitization business has been nothing short of phenomenal. Scaling league tables across a range of asset classes, the firm has created a leading franchise seamlessly integrated into its wider investment banking operations. In 2024, it brought award-winning deals in esoteric ABS, RMBS and CLOs — and took home the coveted title of Overall Securitization Bank of the Year.

For the third year running, the name on the RMBS Bank of the Year award remains unchanged. Nomura’s dominance in the RMBS space was clearer than ever in 2024. Excellence across all facets of the business helped deliver the firm’s busiest year in decades. To find out how Nomura has made the RMBS award its own, GlobalCapital spoke to Sanil Patel, Global Head of Mortgage Structured Lending and Global Co-Head of Real Estate Finance, Patrick Quinn, Global Head of CLO Finance and Head of Securitized Products Syndicate, and Brian Hargrave, Global Head of Securitized Products Trading.

In 2018, Nomura set out to build a best-in-class CLO business. Fast forward to 2024, and the bank’s success is unequivocal. The firm’s fingerprints were on virtually every successful deal from each of the top 10 CLO managers. To find out what lies at the heart of Nomura’s CLO success GlobalCapital spoke to Patrick Quinn, Global Head of CLO Finance, Florian Bita, Head of CLO Origination & Syndication, Anton Lokhov, Head of Secondary CLO Trading and Anshu Chouhan, Head of CLO Structuring.

Guggenheim Securities has been revolutionising esoteric ABS for over a decade, pioneering cutting-edge structures and creating asset classes from scratch. In 2024, the firm once again led the market in issuance and innovation, bringing a host of stellar deals and developing new formats for loyal clients. GlobalCapital spoke to Cory Wishengrad, Guggenheim’s Head of Fixed Income, and Rick Onkey, Head of Structured Products Syndicate, about how the firm manages to stay at the forefront of esoteric ABS.

Big ambitions for global banking — but only if it’s profitable

Diverging policy paths justify the split

UK government’s plan to force pension funds to allocate funds to specific assets goes against the pension industry’s core duty

I manage my team the way I was managed — to get results. Now I'm being punished for it. It feels more than a little hypocritical