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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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UBS has suspended several traders, including some of its most senior ones, amid an investigation into alleged collusion to influence the London Interbank Offered Rate and its equivalents in Europe and Asia.
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BNP Paribas has slashed its bonus pool for 2011 by 50% after pretax profit at corporate and investment banking plunged 40% in the fourth quarter.
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Société Générale reduced risk-weighted assets in corporate and investment banking by 13% last year by dumping EUR16.1 billion ($21 billion) of legacy assets, including a EUR476 million ($620.7 million) write-down in the fourth quarter from positions on U.S. residential mortgage-backed collateralized debt obligations.
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The U.K.’s Financial Services Authority has announced that Margaret Cole will leave the FSA as managing director and board member after nearly seven years.
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Moody’s Investors Service has placed six major global banks on review for possible downgrade because of new economic and regulatory challenges that could have a negative impact on their profits and future growth.
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Law firm Chapman and Cutler last week hired six lawyers from the Washington D.C.-based structured finance team of Orrick, Herrington & Sutcliffe, with expectations of adding four more to the group in the next week or two, according to Chapman chief executive partner Tim Mohan.
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Alternative investment manager Aequitas Capital Management has expanded its asset-backed securities team with the hiring of Jonathan Wease, a v.p. of portfolio management and Brian Zeck as a managing director it its asset-management business.
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Spain’s Santander is close to deal to sell a EUR700 million ($927.8 million) portfolio of foreclosed properties to Morgan Stanley, according to the Spanish newspaper Expansion.
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UBS is said to be planning to issue contingent capital bonds to help raise capital to meet higher core Tier 1 capital standards, following the example of Credit Suisse and Rabobank.