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Norton Rose Fulbright and Katten have added to their legal teams
Asset manager wants to offer more products to institutional investors
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Andrew Platt, a former asset-backed securities banker at UBS, has joined Cantor Fitzgerald’s financial institutions group.
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The Co-operative Bank has joined NBNK in bidding on the 632 branches of Lloyds Banking Group. Virgin Money is also said to be interested in the branches, which Lloyds needs to sell before November 2013 under European Commission competition regulations.
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The Royal Bank of Scotland’s share of the mortgage-lending market has plunged by nearly half in the past 12 months from 14% at the end of the third quarter of 2010 to 8%.
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GAM today launched the GAM Star Cat Bond, a UCITS-compliant fund that will invest in securitized insurance risk through a portfolio of 40 to 50 catastrophe bonds.
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Commerzbank is temporarily suspending new business at Eurohypo, its commercial property finance unit, as part of its effort to reduce its risk-weighted asst by up to EUR30 billion ($41.28 billion), effective immediately.
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The Financial Stability Board has named Mark Carney to head the agency.
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ING Groep has announced that it will reduce its work force by 11%, an estimated 2,000 jobs despite reporting third-quarter earnings that exceeded analysts’ forecasts.
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Real estate lending by U.K. banks has plunged to levels last seen following the collapse of Lehman Brothers Holdings in September 2008, according to Jones Lang LaSalle.
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Germany’s central bank is planning to investigate the EUR55.5 billion ($76 billion) accounting error reported earlier this week by FMS Wertmanagement, Hypo RE’s bad bank.