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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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Trustees administering residential mortgage securities could demand changes to securitization documentation if investigations from the New York and Delaware state’s attorneys-general lead to litigation, according to market participants.
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Market supervisors must ensure that banks value their assets more prudently in the post-crisis securitization market, Thomas Huertas, alternate chair of the European Banking Authority and executive committee member at the Financial Services Authority, said in a keynote speech on Tuesday afternoon. -
Future Capital Partners has appointed Robert Jolliffe to a senior investment advisory position in its structured debt and asset management group.
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Europe’s asset-backed securities market continues to offer attractive yields for investors, but still faces liquidity concerns and major regulatory hurdles, according to Dominic Swan, global head of fixed-income at HSBC and senior adviser to HSBC CIO.
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Keynote speaker Elemér Terták, principal advisor, financial institutions, DG Internal Market & Services at the European Commission, offered Global ABS 2011 attendees little new insight into the thinking of regulators, instead vowing to deny the European securitization market a repeat of mistakes made in the past.
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Antonio Horta-Osorio, the new ceo of Lloyds Banking Group, is expected to slash another 15,000 jobs in a strategic review to be announced at the end of June, bringing the total of lost positions since its merger with HBOS to more than 43,000.
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CapitaLand is refinancing a SGD866 million ($701 million) legacy commercial mortgage-backed securitization on a landmark Singapore property and will reach out to European ABS investors with the new bonds, according to officials familiar with the deal.
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Europe’s bids-wanted-in-competition shot up to €3 billion (4.35 billion) in asset-backed securities last month, more than double the amount on offer in previous months, according to analysts at the Royal Bank of Scotland.
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Lazard has hired a team from Amias Berman to start a structured credit advisory business. Alan Patterson has joined as managing director, with Andrew Feachem, Juan Carlos Martorell, and Aman Panaech as directors and Abror Ismailov as vice president.
