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Agreement on the EU package could run to December, senior lawyer told conference
Octopus Electric Vehicles has also added to its capital markets team
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Jay Kim and a group of about 10 other securitization officials have been hired away from Barclay’s Capital by Credit Suisse, according to market sources.
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Deutsche Bank is restructuring its entire U.S. securitization trading platform, unifying all structured finance trading and related derivatives under a single umbrella, according to officials close to the move.
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Structured finance transaction sponsors are racing to line up a second assessment by the credit ratings agencies ahead of a March 1 deadline set by the European Central Bank for securities to meet repo-eligibility criteria. However, a large number of transactions could shortly become ineligible unless the ECB relaxes its deadline.
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Philadelphia, Pa.-based Dechert has hired Larry Berkovich, former special counsel at Cadwalader, Wickersham & Taft, in a bid to develop its collateralized loan obligations business.
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Mill Valley, Calif.-based Redwood Trust, the sponsor of the year’s first private-label residential mortgage securitization, shifted from one ratings agency to another in order to get a better rating on its Sequoia Mortgage Trust 2011-1. -
Berkadia Commercial Mortgage has hired commercial mortgage-backed securities veteran Hugh Hall as a managing director of capital markets as part of a plan to expand origination programs after cutting back during the downturn.
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Real estate investment firm Recourse Capital has purchased Churchill Pacific Asset Management, a Los Angeles-headquartered collateralized loan obligation manager with $1.9 billion under management.
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Jim Stehli, former global co-head of collateralized debt obligations at UBS, has joined CRT Capital, a Stamford, Conn.-based broker dealer, to launch a new CDO effort.
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Stephen Condon, manager of the securitization group at the U.K. Financial Services Authority’s prudential risk division, has joined the U.K. Asset Resolution, the bad bank arm of the government-owned banks Northern Rock and Bradford & Bingley.
