Latest Securitization People & Markets news

• Taking no prisoners? Citi starts sale of Tesco mortgages

  

  Tesco Bank is said to have mandated Citi to run a sale process for its £3.7bn book of UK mortgages, after it decided to pull out of the market, blaming cut-throat competition. But the move has drawn attention to a proposed UK law to help ‘mortgage prisoners’, which could stop UK mortgages trading at all, writes Owen Sanderson.

  • 23 May 2019

• People news in brief

  JP Morgan picks levfin top brass — Ex-Barclays boss turns up at Wells Fargo — Fixed income portfolio manager leaves Mirova.

  • 23 May 2019

• Fed chair plays down fear of corp debt bust despite near-record high

  

  Business debt has reached near record levels that should give businesses and investors reason to “pause and reflect”, warned Jerome Powell, chair of the US Federal Reserve, this week.

  • 23 May 2019

• HSBC leads banks in selling packaged trade finance

  

  HSBC has started a programme to sell some of its trade finance exposures in packaged, investor-friendly format, threatening a lucrative niche until now occupied by firms such as Greensill Capital. The bank, the largest trade finance lender in the world, has worked with AllianzGI to sell the short dated bond-like assets.

  • 23 May 2019

• Planned sale of Tesco mortgage book kicks up fears of fresh ‘mortgage prisoners’

  

  Tesco Bank is looking to sell its £3.7bn mortgage book after announcing that it will cease new mortgage originations. The lender is exploring options to facilitate a complete transfer, but the news has drawn attention to a bill proposed in the UK parliament which would grant borrowers the ability to transfer mortgages between providers.

  • 22 May 2019

• DFG poaches Crescent Capital exec

  

  As it continues to boost its platform, CLO manager DFG Investment Advisers announced on Tuesday that it has hired John Hwang as a director in its leveraged credit team.

  • 21 May 2019

• Second CMBS 2.0 default points to struggling UK retail sector

  

  A post-crisis CMBS loan tied to a UK retail property has defaulted, only the second CMBS 2.0 default seen to date, pointing to continued weakness in the retail sector.

  • 20 May 2019

• Commission’s Berrigan pours cold water on EU safe asset, ESBies

  

  John Berrigan, deputy director general at the European Commission, has said that the creation of a European safe asset, and in particular European Safe Bonds, would be difficult to achieve.

  • 20 May 2019

• Credit Suisse adds to EMEA CLO team with new promotion

  

  Credit Suisse has promoted Sheenal Thaker to its EMEA CLO corporate asset finance team, based in London.

  • 17 May 2019

• Resurgent CMBS market no help for latest Blackstone deal

  

  The European CMBS market has defied its ineligibility for the European Securities and Markets Authority's (ESMA) new ‘simple, transparent and standardised’ (STS) securitization framework intended to boost confidence in the market. The asset class that appeared dead and buried after the financial crisis has outpaced other asset classes in recent times. But the resurgence did not stop one deal this week from suffering heavy investor scrutiny, writes Tom Brown.

  • 16 May 2019

Securitization people & markets news archive