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Securitization People and Markets

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  • Spain’s Banco Bilbao Vizcaya Argentaria said it will write down EUR1 billion ($1.28 billion) from its 2011 balance sheet in its U.S. unit because of prospects of weak growth.
  • William Dudley, president of the Federal Reserve Bank of New York, has been named chairman of the Bank for International Settlements’ Committee on the Global Financial System for the next three years.
  • Banco Santander may sell more non-core assets to help it raise its capital ratio to 10% by June, according to José Antonio Alvarez, the Spanish bank’s cfo.
  • Philipp Hildebrand has resigned as chairman of Swiss National Bank after revelations that his wife had made currency trades three weeks before the central bank capped the Swiss franc.
  • Virgin Money has named Mark Parker as coo of the bank, which has grown in size with the takeover of part of Northern Rock on Jan. 1.
  • Wells Fargo is said to have named Charles Mather to succeed Chris Campbell as head of commercial mortgage-backed securities trading.
  • Morningstar hired Gregory Murdock to the post of director of Commercial Mortgage-Backed Securities Investor Services.
  • European banks are stepping up their sale of covered bonds as a financing alternative.
  • The law firm Gibbs & Bruns announced that its client institutional bondholders have instructed US Bank and HSBC, as their trustees, to launch investigations of ineligible mortgages that were pooled for more than $19 billion of residential mortgage backed securities issued by various affiliates of Wells Fargo.