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Vida Bank is also building up its funding team
Bank’s relationship with SpringCash is ‘commercial’
Stefan Jost will take over the role
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The Austrian government has put up for sale Kommunalkredit Austria, the bank it nationalized after acquiring it from Oesterreichische Volksbanken, with the hope of closing a deal by the middle of next year.
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Natixis Asset Management has teamed up with AEW Europe to launch the Senior European Loan Fund, which aims to raise EUR500 million ($614.6 million) to invest in senior real estate loans, mainly in France, Germany and the U.K. Click here to read the story from Institutional Asset Manager.
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Mitsubishi is launching a commercial mortgage-backed securitization business in the U.S. in a joint venture with Five Mile Capital Partners.
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Google has tapped its stockpile of cash to invest large chunks of money into two recent asset-backed securitizations issued by Hyundai Capital America and Honda.
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A former member of Thomson Reuters’ team involved with the London Interbank Offered Rate said the British Bankers’ Association, which sets LIBOR, was informed on a weekly basis in 2008 that the rate was being distorted.
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The European Commission has approved the Spanish government’s plan to recapitalize its banks through the end of the year, finding that the program does not violate European Union competition regulations because the measures are “limited in time and scope and contain incentives to redeem the state participation.”
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Nationwide has jumped ahead of the Royal Bank of Scotland as the third-largest mortgage lender in the U.K., behind No. 1 Lloyds Banking Group and Santander U.K., according to the Council of Mortgage Lenders.
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Banco Santander reported a 93% plunge in profits in the second quarter after it needed to set aside EUR2.78 billion ($3.42 billion) to cover its exposure to toxic loans.
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Alison Carnwath has resigned as head of Barclays’ compensation board committee for personal reasons.