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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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Agency residential mortgage-backed securities rallied after President Barack Obama inked a debt ceiling agreement into law yesterday, building on the gains sparked Monday by the news that a compromise was near.
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Paul Jablansky, former senior non-agency mortgage-backed securities and consumer asset-backed securities strategist at the Royal Bank of Scotland, has jumped to Western Asset Management, where he’ll serve as co-head of the mortgage investment team.
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CB Richard Ellis has hired Adam Wilton as senior director of its U.K. debt advisory unit.
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The U.K.’s highest court has ruled that Lehman Brothers Holdings’ Excalibur Funding No. 1 collateralized debt obligation was not in default, and therefore Germany’s Bundesbank could not gain control of it as a senior note holder.
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HSBC plans to cut another 25,000 jobs in addition to 5,000 already slated for the U.S., U.K., France, Latin America and the Middle East and will withdraw from some 20 countries in an effort to reduce costs.
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Natixis CIB Americas is spying growth across its global structured credit and conduits platform while bank counterparts in Europe are struggling with exposure to the sovereign credit crisis, according to Yann Gindre, ceo.
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Four firms have indicated they are interested in acquiring the more than 630 branches of Northern Rock ahead of the Friday deadline.
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Mortgage arrears at Northern Rock Asset Management climbed 9% in the first six months of the year compared with the same period in 2010, while those at Bradford & Bingley tumbled 30%, according to UK Asset Resolution.
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Goldman Sachs and Citigroup could stand to take a big loss on their pulled offering, a $1.5 billion commercial mortgage-backed securities deal, GSC 2011-GC4.