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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Morgan Stanley is selling its Saxon mortgage-servicing unit to Ocwen Financial for $59.3 million plus an estimated $1.4 billion for outstanding receivables.
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UBS, Deutsche Bank and other large investment banks in Europe are seen to be picking up the pace of reducing workforce and selling assets in the face of disappointing earnings and tighter capital regulations.
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Andy Haldane, executive director for financial stability at the Bank of England, has called for a radical overhaul of bankers’ compensation.
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The U.K.’s Financial Services Authority has fined Credit Suisse £5.95 million ($9.49 million) for systems failures related to its sale of structured products.
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Banks in Italy, Portugal and Spain will have to raise the largest proportion of funds for recapitalization, while those in the France, Germany and U.K. may escape having to raise any.
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Lloyds Banking Group may is 632 branches after its effort to sell them attracted only one bidder despite reported interest from several others.
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The U.S. Securities and Exchange Commission’s recent decision to review the status of Real Estate Investment Trusts could signal a move to codify the exemptions and special privileges the REIT structure enjoyed—not the crackdown the industry fears—said Richard Ginn, managing director at Bank of America-Merrill Lynch.
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Investors at the ABS East conference said regulators are doing right by the industry in demanding increased transparency and reporting in the asset-backed securitization market, a move they say will put the market’s future on more solid footing. -
Assured Guaranty has filed suit against DLJ Mortgage Capital, a unit of Credit Suisse, over losses it suffered because of alleged misrepresentations about the quality of loans underlying six residential mortgage back securities.
