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Octopus Electric Vehicles has also added to its capital markets team
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New York-based law firm Chapman and Cutler has hired six structured finance partners for its new Washington, D.C. office.
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U.S. Bank Global Corporate Trust Services named senior v.p. Tom Cubitt head of European corporate trust business in London.
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William Galvin, the secretary of the commonwealth of Massachusetts, has issued a subpoena to Bank of America relating to its role in two collateral loan obligations, which resulted in a $150 million in loss for investors.
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Joseph Smith, the North Carolina commissioner of banks, has been tapped to oversee the $25 billion settlement between government officials and major lenders over their foreclosure practices.
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Barclays is slashing bonuses at Barclays Capital, its investment banking unit, by 32% after it reported a 16% decline in full-year net income.
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German insurer Allianz is planning to double the volume of asset-backed lending over the next three years from 5% to 7% of its portfolio, though it has not set a target amount, according to Nikhil Srinivasan, the firm’s cio, in an interview with a German newspaper.
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Bank of America has agreed to pay $1 billion to settle claims relating to its Countrywide Financial unit.
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Infonavit, the mortgage-lender run by the Mexican government, sold a record $392 million in mortgage-backed securities called Cedevis.
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Residential Capital is said to be exploring the possibility of selling itself to a buyout firm through a prepackaged bankruptcy.