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Securitization People and Markets

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  • Roland Berger, the German consulting firm, is looking to start a credit rating agency to compete with Moody’s Investors Service, Standard & Poor’s and Fitch Ratings.
  • JPMorgan Worldwide Securities Services has rehired Mark Tidy to head securities lending sales and business development for Europe, the Middle East and Africa.
  • A federal judge in Los Angeles has sharply reduced the claims in a case against Countrywide Financial Corp. over soured mortgage-backed securities from $351 billion to just $2.6 billion.
  • Prudential Mortgage Capital and affiliated funds of Perella Weinberg Partner’ Asset Base Value strategy have partnered in a joint venture that will original commercial mortgages for future securitizations.
  • Citigroup is said to be cutting back on the asset pool it intends to include in the sale of its OneMain Financial unit potentially to Centerbridge Capital Partners and Leucadia National.
  • The Association for Financial Markets in Europe has hired James Kotsomitis as a managing director in its capital markets division.
  • Large U.K. banks may close additional branches in their networks to reduce costs.
  • Deutsche Bank says it has entered talks to sell BHF Bank to Kleinwort Benson.
  • HSBC plans to cut 672 jobs in France over the next three years in an effort to attract investors by lowering costs, which in turn would boost returns.