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Latest news
Deal raises questions about whether transaction was done at arm's length
Joanna Chan is taking on the role of head of strategic capital
Key points of contention include the investor sanctions regime and the definition of 'resilience'
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Nord/LB Covered Finance Bank, a subsidiary of Nord/LB focused on public sector financing, is planning the first covered bond issuances from its program toward the end of April.
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Citigroup mortgage trader Shujaat Islam has shifted over to Citi Alternative Investments as a senior portfolio manager. He is responsible for the collateralized mortgage obligation strategy within a multi-strategy hedge fund and reports to Reaz Islam, head of the structured credit team, according to an official close to the firm. The senior portfolio manager declined comment and the group head could not comment by press time. Former mortgage trader Islam joined Citi from Morgan Stanley in 2005.
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PMI Guaranty has hired Christopher Mortello from Assured Guaranty as managing director of asset-backed securitization.
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Greenwich, Conn.-based start-up NSM Capital Management has hired Keith Lee as a senior portfolio manager.
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Student loan provider, Sallie Mae, has agreed to be sold to J.P. Morgan Chase, Bank of America and two private-investment funds for $25 billion, according to The Wall Street Journal. New York-based JC Flowers & Co. and San Francisco-based Friedman Fleischer & Lowe plan to take a 50.2% ownership in the newly private firm, with J.P. Morgan and Bank of America each taking 24.9% stakes in the company, formally known as SLM Corp.
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James Furash has left his position as ceo and president of Countrywide Bank.
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Brevan Howard Asset Management is setting up an asset-backed securities platform in the U.S. and has hired Najib Canaan to lead the effort.
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Brevan Howard Asset Management is setting up an asset-backed securities platform in New York led by Najib Canaan.
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Ex-Credit Suisse distressed trading official Joe Brosnan is reportedly headed to the Royal Bank of Scotland.