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Investor previously headed consumer ABF at Barings
Norton Rose also recruits experienced partner from Paris law firm to its structurization team
Asset manager's AUM could grow $20bn in 10 years
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Allied Irish Banks is looking to unload EUR1.1 billion ($1.47 billion) in commercial property loans in Ireland, half of which are said to be distressed, and EUR 300 million ($400.4 million) in residential loans.
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Lloyds Banking Group is considering lightening the work load of Antonio Horta-Osrio, its ceo, who is currently on sick leave, by possibly hiring a coo and assigning more duties to a group of senior directors.
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Nomura Slashes European Bad Debt Nomura Holdings has reduced its European bad debt portfolio as well as the use of repo-to-maturity transactions backed by the debt.
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Italy’s Intesa Sanpaolo has named Enrico Cucchiani as managing director and ceo to succeed Corrado Passera, effective Dec. 22.
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Bob Diamond, ceo of Barclays, predicts there will be a wave of bank consolidations in Europe over the next 12 months as financial institutions focus on their stronger units and unload their weaker ones.
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Lloyds Banking Group has said David Roberts, its non-executive director, would become interim ceo in the event that the current chief, Antonio Horta-Osorio, extends his medical leave into next year.
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UBS is said to be considering shrinking its bonus pool to help recover some of the $2.3 billion it lost from unauthorized trading.
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Citigroup has sold the servicing rights for its $2.6 billion residential-loan portfolio to CWCapital.
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Phyllis Caldwell is leaving the Department of the Treasury and her position as head of the its Homeownership Preservation Office and the Home Affordable Modification Program Dec. 9.