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Latest news
New hire to be US head of digital infrastructure finance for combined firm
Norton Rose Fulbright and Katten have added to their legal teams
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Brexit has been a slow-burning problem for the City of London, but burning it is. Financial markets are regulated. With worse access to Europe, the UK must make itself attractive to financial firms in other ways. -
European Commission amendments to the regulation governing eligibility towards the liquidity coverage ratio (LCR) has left the ABS industry disappointed, with the treatment for ‘simple, transparent and standardised’ (STS) instruments no better off and existing investments losing beneficial treatment. The move could have a chilling effect on banks’ willingness to increase participation in European securitization.
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BNP Paribas is combining its primary and secondary activities in US credit markets under a new Global Credit Markets Americas division, with a new head of leveraged finance joining from Deutsche Bank to bolster the firm’s offering.
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Houlihan Lokey has formed a new US leveraged loan syndication platform, HL Finance, with HPS Investment Partners working alongside the firm to underwrite and syndicate deals of up to $1bn.
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JP Morgan has promoted Oldrich Masek to head of the EMEA securitized products group, following David Lefkowitz's relocation from London to New York.
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SC Lowy Asset Management has hired William Bishop as senior sourcer for distressed debt in London.
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CIFC Asset Management, one of the largest CLO managers in the world, has recently turned its attention to Europe, with the hire of Joshua Hughes to start marketing and fundraising for European loan investments. It is planning to build out the business in the coming months with more London-based hires, including a senior investment professional to lead that side of the business — but it’s not diving headfirst into the increasingly crowded European CLO market.
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The Bank of England this week laid out its plan to build reliable term rates from the sterling overnight interbank average rate (Sonia) that it has chosen to replace Libor, recommending that overnight index swaps on the rate be traded on venue.
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Holders of HSH Nordbank’s tier one securities are requesting documentation from the German bank’s owners through the US legal system. They say the sale of the bank was designed to harm them.
