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Securitization People and Markets

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  • Morgan Stanley has hired JPMorgan's Jerry Van Koolbergen as an executive director reporting to Laya Khadjavi, global head of collateralized debt obligations at the bank.
  • Dave Petrucco left Royal Bank of Scotland to join the Blackstone Group as a managing director in its corporate debt group.
  • UBS has hired a pair for its distressed group that will fill similar roles as two veterans that just left for Barclays Capital.
  • Barclays Capital hired another trader, Marc Berg from CIBC World Markets.
  • The Bank of Ireland has started taking on an increasing number of lead arranger roles in middle-market deals, most recently on a financing for National Vision.
  • The International Swaps and Derivatives Association published a loan-only credit default swap confirm last Thursday, much to the delight of those playing in the space.
  • Moody's Investors Service reports that global speculative-grade defaults rose very slightly last month to 1.7% from 1.6%, notable because the number of bond defaults was the highest in five months and it was the first default by a rated European corporate bond issuer in 15 months, the ratings agency said.
  • UBS has hired James Trefry, a Deutsche Bank loan salesman, to join its distressed loan trading desk.
  • Société Générale has set up an integrated debt platform incorporating the loan and bond functions.