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Banker had been at NatWest for three years
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Fitch is creating a new division called Fitch Solutions to separate out its analytics from its commercial activities. At the same time the rating agency is folding back into itself the Derivative Fitch subsidiary launched in Oct. 2006 as a specialist rating agency for the credit derivatives market.
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Delaware Asset Advisors collateralized debt obligation Delphinus CDO 2007-1, a $1.6 billion deal, has breached an overcollateralization trigger and reported an event of default, bringing the EOD tally to nearly 60 deals totaling about $60 billion.
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Austin, Texas-based Tejas Securities is bulking up its sales staff as it plans to become more active in distressed debt and high-yield investing, including collateralized debt and asset-backed securities.
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Ratings agency DBRS has been forced to shut down its European offices and reduce personnel in New York and Toronto due to the effects of the global credit crunch.
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Merrill Lynch has shuttered its commercial real estate collateralized debt obligation unit as it continues to scale back its CDO unit, said a close source close to the situation.
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Stamford, Conn.-based boutique broker-dealer J Giordano Securities is building out its distressed asset-backed securities group and plans to hire two to three salesmen for the desk.
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Issuance from the Israeli securitization market is set to grow this year, a contributing factor to Moody’s Investors Service taking a 51% stake in Israeli rating agency Midroog Limited.
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Robert McGinnis, head of asset-backed finance and trading at RBS Greenwich Capital, has left the firm.
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Cleveland-based law firm Thompson Hine this month hired Mildred Quinones-Holmes from The Bank of New York Mellon for the newly created position of providing external risk management services for trustees of collateralized debt obligations and other structured products.