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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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London securitization teams have suffered from widespread job losses from major U.S. investment banks as protracted stagnation in the European market has hit business hard.
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Lehman Brothers announced last Monday it had raised about $3 billion for the Lehman Brothers Loan Opportunity Fund to focus on opportunistic investments in a range of leveraged loans.
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Greg Medcraft, managing director and global head of securitization at Société Générale, is leaving the firm after 27 years.
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Moody’s Investors Service will be cutting its workforce companywide after posting a 7% decline in net income for the quarter ending Sept. 30.
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Mortgages plc, the specialist U.K. non-conforming mortgage subsidiary of Merrill Lynch, is cutting approximately 20% of its 325-strong workforce.
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UBS made an operating loss of CHF726 million ($625 million) in its third quarter after taking "substantial losses and writedowns" on trading positions in the U.S. subprime residential market worth CHF 4.2 billion ($3.6 billion).
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Bank of America has cut 500 jobs from its capital markets business, according to sources familiar with the situation.
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Defence and aerospace company BAE Systems has named Paul Tattersall v.p. of trading and services of its asset management effort.
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Five lenders, UBS, JPMorgan, Bear Stearns, Wachovia and Column Financial made cuts to their commercial mortgage-backed securities origination groups this week.