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Securitization People and Markets

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  • Holliday Fenoglio Fowler has named Andrew Seng as managing director in the mortgage-banker’s debt-replacement group.
  • Allied Irish Banks is selling €700 million book ($986.6 million) of its €7.6 billion ($10.71 billion) U.S. commercial mortgages to The Blackstone Group and Wells Fargo.
  • UBS has tapped CB Richard Ellis to search for 750,000 square feet of office space in Manhattan, a move officials at the bank said could include relocating the bank’s securitization, larger fixed-income platform and equities teams out of its existing base in Stamford, Conn.
  • Talk of two more commercial mortgage-backed deals in Europe has surfaced, indicating the region’s stalled CMBS sector is fighting to re-emerge.
  • NIBC is keeping securitization in its future funding arsenal, but it is plotting a temperate role in the market.
  • The trustee overseeing the disputed sale of GSC Partners’ $8 billion collateralized loan obligation platform asked the bankruptcy judge yesterday to reject a minority lender plan to install Sankaty Advisors in an oversight role on the CLO contracts.
  • Fund managers are the biggest buyers of European asset-backed securities this year, but investment banks continue to play a major role in the investor pool, according to Barclays Capital research in London.
  • The U.K. Independent Commission on Banking is said to be considering a minimum capital buffer for banks in addition to equity.
  • Ireland’s Financial Regulator has ordered Bank of Ireland, Allied Irish Banks, Permanent TSB and Educational Building Society to book their expected losses, according to a government memo to the International Monetary Fund.