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Octopus Electric Vehicles has also added to its capital markets team
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France’s OFI Asset Management has formed ZENCAP Asset Management, a new unit that will focus on the distressed-credit market.
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UBS and Credit Suisse are said to cutting 5,000 and 1,000 jobs, respectively.
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Royal Bank of Scotland is teaming up with The Blackstone Group to launch a £1.4 billion ($2.26 billion) U.K. commercial real estate loans fund.
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Sen. Barbara Boxer (D-Calif.) pitched her controversial mortgage refinancing plan to the Street on Tuesday, but analysts said that even if it is passed, it won’t start the refi wave investors fear.
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ING has asked the European Union’s General Court to revoke some of the provisions of its state-approved bailout, terms that the Dutch bancassurer has said were disproportionate compared with those imposed on other European banks receiving government rescue funds.
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Standard Chartered warns that bank reform proposed by the Independent Commission on Banking raises the risk of financial institutions failing.
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The U.K.-based law firm Linklaters has appointed Jim Rice, a structured finance and securitization partner, to succeed John Tucker as head of its finance and projects division.
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There have been few bids for the roughly 600 branches of Lloyds Banking Group, according to sources.
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Rep. Bill Posey (R-Fla.) has introduced a bill that would allow banks to count modified mortgages as an asset and not a liability toward meeting higher capital requirements.