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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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Bank of America has taken a $2 billion stake in Countrywide Financial, the nation’s largest home lender about a week after the mortgage-lender announced that it had taken an $11.5 billion line of credit. “Bank of America's investment in Countrywide represents a vote of confidence and strengthens our balance sheet, enabling us to position Countrywide for future growth and success,” said Angelo Mozilo, chairman and ceo of Countrywide, in a press release.
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Lehman Brothers is closing its BNC Mortgage subsidiary and laying off about 1,200 employees across 23 U.S. locations.
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Fitch Ratings has hired Moody’s Investors Service alumnus Joseph Staffa for its municipal structured finance group.
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Jeff Stolz, head of European asset-backed securities origination at Deutsche Bank, has left the firm.
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Securitus Capital Corp. is in talks with liquidity provider Swiss Re Financial Products to resolve a missed liquidity call on Selkirk Funding Trust, an asset-backed commercial paper conduit administered by Toronto-based Securitus.
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GMAC has hired Alvaro de Molina as chief operating officer in conjunction with plans to turnaround its real estate operations in a challenging market environment.
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U.K. commercial bank Alliance & Leicester is beefing up its corporate and structured finance effort in London and has hired Andy Williams from Bank of Ireland as head of global infrastructure.
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Capital One Financial announced today that it will close its GreenPoint Mortgage subsidiary, eliminating 1,900 positions in the process.
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Hypo Vereinsbank’s head of asset-backed securities trading and syndicate has shifted to the buyside.