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Banker had been at NatWest for three years
New hire to be US head of digital infrastructure finance for combined firm
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The Bank of Ireland has appointed Archie Kane as new governor, effective immediately.
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Commerzbank has filed a second appeal to overturn a ruling last month by the U.K. High Court that the German lender must pay an estimated EUR50 million ($62.9 million) in promised bonuses to 104 former bankers at Dresdner Kleinwort.
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Standard & Poor’s said its ratings on global structured finance transactions will not be affected by bank downgrades by rival credit rating agencies.
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A federal appeals court has ruled that Kentucky-based Republic Bank may not sue Bear Stearns and its current owner, JPMorgan Chase, for $14 million in losses from mortgage-backed securities because the bank failed to read the MBS offer documents and did not provide sufficient specifics to sustain its fraud claims.
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Principal reductions now account for roughly 40% of total loan modifications by mortgage servicers, compared with 25% last year and 11% in 2010, according to Amherst Securities Group.
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Baring Asset Management is planning to launch the Baring Emerging Market Corporate Debt Fund, a subfund of its Irish-domiciled open-ended Baring Investment Funds.
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The Royal Bank of Scotland is planning to cut 618 jobs from its retail financial-planning division as new rules that go into effect next year bars banks and other advisers from charging customers based on commission; instead, customers will pay an upfront fee.
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U.S. and European regulators must ensure mutual recognition when finalizing securitization and derivatives regulation in order to curb jurisdictional conflict and legal and compliance complexity, according to a new study by the E.U.-U.S. Coalition, an umbrella group of industry associations.
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The Systemic Risk Council, the new group headed by Sheila Bair, former chair of the Federal Deposit Insurance Corp., has called on U.S. regulators to accelerate the process of designating non-bank firms as systemically important to help avoid another 2008-like crisis.