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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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Ally Financial is said to be considering filing for bankruptcy protection for its Residential Capital unit as a way of limiting its exposure to the troubled mortgage lender.
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Goldman Sachs says it is facing lawsuits involving $15.8 billion in mortgage-backed securities, a thirtyfold jump from its estimate of $485 million just three months ago.
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Prices for non-agency residential mortgage-backed securities are at their lowest level compared with other products since 2008, according to Amherst Securities Group.
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PIMCO has named Stefano Risa as executive v.p. and head of mortgage and asset-backed analytics in the firm’s New York office.
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Residential mortgage-backed securities have racked up $350 billion in cumulative losses so far since the housing market began to collapse, about half of the total it may eventually sustain, according to FTN Financial.
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Mortgage veteran Bill Twombly is leaving UBS for Brooklyn-based Risk Management Group, a residential mortgage-backed securities analytics and surveillance group.
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Cardano, the U.K. pension fund manager, says it is looking into investing in distressed debt for the first time as resolution of the euro-zone crisis is likely to present opportunities.
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Moody’s Investors Service says it may downgrade Lloyds Banking Group because of concerns over the temporary health-related leave of Antonio Horta-Osorio, the bank’s ceo.
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Société Générale has decided to shelve dividend plans for 2011 as it needs to boost its capital base after absorbing significant write-downs from its exposure to Greek debt.