Latest news
Latest news
New realm for ex-Natixis banker, as HSBC Innovation Bank hires
Patrick Wills has more than 14 years’ experience working at US bank
Manager establishing London-based European BSL CLO platform
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The U.S. Court of Appeals for the Second Circuit has upheld a lower court ruling that dismissed a suit brought by Germany’s Landesbank Baden-Wuerttemberg against Goldman Sachs charging it lost $37 million on its investment of residential mortgage-backed securities collateralized debt obligations.
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Lord Adair Turner, chairman of the U.K. Financial Services Authority, said that while securitization might have “some potential to be a useful innovation,” in the hands of shadow bankers it was “inherently dangerous.”
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Deutsche Bank is said to be considering a sale of up to EUR3 billion ($3.9 billion) in shares to raise capital, but a bank spokesman has denied it.
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Barclays has responded to shareholder anger over a bonus for CEO Bob Diamond by adding a clause in his contract that would slash his payout by half.
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Ehren Stenzler has resigned as co-head of U.S. mergers and acquisitions at UBS a day after Aryeh Bourkoff quit as head of investment banking for the Americas.
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Citigroup has named Juan Bruchou to head seven South American countries, including Argentina and Venezuela, and Sureh Maharaj to run the business covering Central America and the Caribbean.
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State-owned Bayerische Landesbank has filed suit in New York against Deutsche Bank charging fraud in connection with the sale of $810 million of residential mortgage-backed securities.
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The U.S. Federal Housing Finance Agency has ordered Fannie Mae and Freddie Mac to develop strategies to help homeowners avoid foreclosure through short sales, deed in lieu and deeds for lease, among others.
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Container lessor Textainer Group has completed its $400 million fixed-rate asset-backed notes.