Latest news
Latest news
Hire follows launch of new asset backed finance fund
Karen Anzalone joins law firm's structured finance and securitization practice
Bank continues to build in priority area
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Barclays has appointed a former C-suite executive to run private side activities in its asset-backed finance group, following the departure of Cecile Hillary to become deputy treasurer at Lloyds Banking Group. -
Danish credit asset management boutique Capital Four is expanding in the US and has hired former MidOcean CLO portfolio manager Jim Wiant to establish and lead the US business. Wiant has been appointed CEO of US Capital Four and portfolio manager. He will be based in the New York office.
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Lawyers for struggling supply chain finance firm Greensill argued in court that over 50,000 jobs could be at risk from its collapse, precipitated by the withdrawal of credit insurance. But experts in the sector with knowledge of Greensill’s exposures argue that even Sanjeev Gupta’s Liberty Alliance empire could come out ahead.
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Barclays has structured a new mortgage master issuer vehicle, raising the prospects of a return to RMBS funding for a bank which has been absent from the market for nearly a decade. The new vehicle uses the same revolutionary technology present in Coventry Building Society’s Economic Master Issuer deal, which slashes the time, cost and complexity of running these structures.
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The synthetic risk transfer market helped some of Europe’s biggest banks dodge loan losses last year, with Barclays saving more than £300m and Deutsche at least €150m. But the backdrop last year led to investors taking a tougher line on writing new credit protection, steering clear of pools with limited disclosure and hoping to dodge the most damaged sectors.
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The complexity of CLO documentation, and the need for easy access to deal info is encouraging tech providers to step into the breach and offer solutions to simplify the time-consuming processes of CLO investing. As managers adapt their deals to handle the fallout of the pandemic, good tools to handle documentary complexity have become all the more important.
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Securitizations with the ‘simple, transparent and standardised’ (STS) label have definitively started pricing better than non-STS deals for the first time since the framework’s launch in 2019, said Santander managing director Steve Gandy, speaking at Afme’s 12th Annual Spanish Capital Markets Virtual Conference.
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Fintech asset manager Pagaya hired Peter Silberstein as head of capital development, the latest addition to its asset management division. Pagaya has added five team members in the last six months, including head of originations and head of structured products.
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Tikehau Capital has appointed Christoph Zens from Commerzbank as head of the firm’s CLO business, replacing Debra Anderson who is set to retire in the second quarter of 2021.
