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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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Both the nature and timing of the European Union’s planned Taxonomy of Sustainable Economic Activities are in doubt. Conservative members of the European Parliament this week voted down an ambitious draft of the bill, and some nation states appear reluctant to push the Taxonomy bill through to the statute book before the European elections in May, writes Jon Hay. -
Allen & Overy has appointed Nick Robinson, formerly special counsel at Milbank LLP, as partner in the law firm’s securitization and structured finance practice.
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Conservative and liberal members of the European Parliament have voted down an ambitious draft of the bill to set up the EU’s Taxonomy of Sustainable Economic Activities, in favour of a weaker text with fewer safeguards for the environment and society.
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EU institutions are working toward a deal on a draft directive establishing secondary markets for non performing loans (NPLs). It is to be the final piece of the NPLs "action plan" unveiled in March by the European Commission.
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Pitts-Tucker takes sole control of Nomura International IB — Hourican turns up at NewDay — NatWest hires RBC SSA banker
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The ‘simple, transparent and standardised’ framework for securitisations took another step forward this week when its first third-party verifier, True Sale International’s STS Verification International (SVI), was authorised by German regulator BaFin. Another verifier, Prime Collateralised Securities (PCS), is already working on deals as it awaits authorisation.
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Cheyne Capital’s structured investment vehicle (SIV) has finally been liquidated, marking another post-crisis milestone. Cheyne Finance was the first SIV to be forced into wind-down in August 2007, as frozen commercial paper markets stopped it raising funding, and worries about subprime forced it to breach a ‘major capital loss’ trigger and start selling assets. It then entered a restructuring and has been in receivership ever since 2008.
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NewDay has hired John Hourican as CEO, a role he will take up in early September. He succeeds James Corcoran, who has served as CEO since 2009.
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Rachelle Rijk, treasury manager at Obvion, will move into a new role as CFO as of March 1.
