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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 U.S. Securities and Exchange Commission has named James Burns as deputy director in the Division of Trading and Markets in charge of market oversight and operations, derivatives policy and trading practices.
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The Securities Industry and Financial Markets Association has expressed concern over proposals by the U.S. Financial Industry Regulatory Authority to increase transparency in the mortgage-backed securities market.
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Law firm Barnes & Thornburg has established a lending and structured finance practice group to be chaired by partners Michael Campbell and Nancy Schimmel.
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Wells Fargo is said to be preparing to auction $200 million in nonperforming residential loans.
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Moody’s has downgraded the long-term debt and deposit ratings by one to three notches on 16 Spanish banks plus the U.K. subsidiary of Banco Santander.
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U.K. taxpayers could face a loss of £2 billion ($3.16 billion) from a wind down of Northern Rock, according to estimates by the U.K.’s National Audit Office.
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Stuart Gulliver, ceo of HSBC, said the bank may consider selling its U.K. branches if the costs of ringfencing regulations make it impossible for it to meets its profit targets.
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Deutsche Bank and Cantor Fitzgerald are said to be preparing to sell $824 million in commercial mortgage-backed securities in the coming days.
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The U.S. Securities and Exchange Commission is said to have launched an investigation into the role hedge fund Magnetar Capital played in various collateralized debt obligations.