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Norton Rose Fulbright and Katten have added to their legal teams
Asset manager wants to offer more products to institutional investors
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JP Morgan picks levfin top brass — Ex-Barclays boss turns up at Wells Fargo — Fixed income portfolio manager leaves Mirova.
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Business debt has reached near record levels that should give businesses and investors reason to “pause and reflect”, warned Jerome Powell, chair of the US Federal Reserve, this week. -
HSBC has started a programme to sell some of its trade finance exposures in packaged, investor-friendly format, threatening a lucrative niche until now occupied by firms such as Greensill Capital. The bank, the largest trade finance lender in the world, has worked with AllianzGI to sell the short dated bond-like assets.
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Tesco Bank is looking to sell its £3.7bn mortgage book after announcing that it will cease new mortgage originations. The lender is exploring options to facilitate a complete transfer, but the news has drawn attention to a bill proposed in the UK parliament which would grant borrowers the ability to transfer mortgages between providers.
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As it continues to boost its platform, CLO manager DFG Investment Advisers announced on Tuesday that it has hired John Hwang as a director in its leveraged credit team.
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A post-crisis CMBS loan tied to a UK retail property has defaulted, only the second CMBS 2.0 default seen to date, pointing to continued weakness in the retail sector.
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John Berrigan, deputy director general at the European Commission, has said that the creation of a European safe asset, and in particular European Safe Bonds, would be difficult to achieve.
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Credit Suisse has promoted Sheenal Thaker to its EMEA CLO corporate asset finance team, based in London.
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The European CMBS market has defied its ineligibility for the European Securities and Markets Authority's (ESMA) new ‘simple, transparent and standardised’ (STS) securitization framework intended to boost confidence in the market. The asset class that appeared dead and buried after the financial crisis has outpaced other asset classes in recent times. But the resurgence did not stop one deal this week from suffering heavy investor scrutiny, writes Tom Brown.
