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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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Former SoFi CEO Mike Cagney’s new online startup, Figure, which is looking to provide financing for home improvement loans and home equity lines of credit (HELOC), is looking to bring on at least 11 people, including a chief compliance officer. -
MUFG announced on Friday that it has hired Scott Rodman as managing director and head of structured solutions for the Americas.
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The European Central Bank (ECB) and the European Commission (EC) delivered a double whammy of non-performing loan (NPL) action this week, laying out how to amend bank capital rules to better deal with the problem and explaining how supervisors would treat loans going bad in future. Passing a credible package to deal with NPLs is a crucial step in getting northern member states comfortable with a full Banking Union.
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Citi has recombined its European structured finance syndicate operation under Laura Coady, who becomes head of EMEA structured finance syndicate as well as keeping her existing role as head of Citi’s European primary CLO business. Garo Torossian, formerly head of EMEA residential mortgage distribution, joins Coady on the newly formed desk.
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A Washington supranational has added a capital markets veteran to its funding team.
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The ECB has published an addendum to serve as guidance for all future non-performing loans. The measure is non-binding and will serve as the basis for dialogue between the ECB and the banks it regulates directly.
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The European Commission has proposed a package of measures to tackle the European conundrum of non-performing loans; it includes a mandatory level of how banks must provision against these loans and their new EC determined definition.
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The US arm of UK online small business lender Funding Circle has tapped PayPal’s Bernardo Martinez for US managing director.
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Online small business lender OnDeck announced that Ken Brause will be taking over as chief financial officer effective March 26.
