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Latest news
PAG also hires new vice president
Agreement on the EU package could run to December, senior lawyer told conference
Octopus Electric Vehicles has also added to its capital markets team
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Only 7.6% of investors accepted an offer from Portugal’s Banco BPI to buy back covered bonds at a discount, apparently because of the small premium.
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Oklahoma—the only state to opt out of the $25 billion settlement between government officials and the nation’s five largest mortgage servicers—has reached a separate deal with the lenders.
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New York-based law firm Chapman and Cutler has hired six structured finance partners for its new Washington, D.C. office.
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U.S. Bank Global Corporate Trust Services named senior v.p. Tom Cubitt head of European corporate trust business in London.
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William Galvin, the secretary of the commonwealth of Massachusetts, has issued a subpoena to Bank of America relating to its role in two collateral loan obligations, which resulted in a $150 million in loss for investors.
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Joseph Smith, the North Carolina commissioner of banks, has been tapped to oversee the $25 billion settlement between government officials and major lenders over their foreclosure practices.
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Barclays is slashing bonuses at Barclays Capital, its investment banking unit, by 32% after it reported a 16% decline in full-year net income.
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German insurer Allianz is planning to double the volume of asset-backed lending over the next three years from 5% to 7% of its portfolio, though it has not set a target amount, according to Nikhil Srinivasan, the firm’s cio, in an interview with a German newspaper.
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Bank of America has agreed to pay $1 billion to settle claims relating to its Countrywide Financial unit.