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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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BNP Paribas, Société Générale and Crédit Agricole have all taken steps to reduce the size of their U.S. operations.
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StormHarbour has hired Aishwarya Dahanukar, a senior official in Nomura’s European financial institutions group debt capital markets origination team, in a similar position in London.
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The performance of loans in Irish commercial mortgage-backed securities deteriorated sharply in October as the rate of loans 90 days or more delinquent climbed from 8.85% at the end of July to 10.14%, according to Moody’s Investors Service.
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Lloyds Banking Group has sold more than £900 million ($1.41 billion) in mortgage-backed loans to Lone Star Funds, the U.S. private equity firm.
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Reed Smith has hired Tamara Box as head of structured finance in the law firm’s financial industry group in London.
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Royal Bank of Scotland is close to completing a deal with the Blackstone Group to offload control of £1.4 billion ($2.17 billion) of distressed mortgages, known as Project Isobel.
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Barclays and hedge fund Angelo Gordon have asked a federal court to determine whether an estimated $600 million in outstanding commercial mortgage-backed securities defaulted.
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The Basel Committee on Banking Supervision said conglomerates could not double count capital of both a bank parent and insurer toward meeting capital requirements in an accounting method known as consolidation.
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The U.K.’s National Audit Office is investigating the sale of Northern Rock to Virgin Money after complaints that the deal is poor value for taxpayers.