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Bonuses in structured finance sales and trading are projected to sink at least 50% compared with last year's figures, according to the annual compensation report from New York-based recruitment firm Options Group. -
Former Broadpoint Captial distressed structured products traders Viru Raparthi and Maneesh Awasthi have joined brokerage Newedge, a joint venture between Société Générale’s Fimat and Calyon Financial, to build up a synthetic and cash structured credit platform there.
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Leon Hindle, managing director and global head of collateralized debt obligations and structured credit at Nomura, formerly Lehman Brothers Asia, left the firm last week.
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Peter Krell, cofounder of mortgage analytics and service provider The Clayton Group, has started up a new mortgage performance analytics provider called Scienna.
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Proprietary trading desks are expected to be off the radar for banks for at least a year, market watchers say.
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Morgan Joseph has added Thomas Carter and Andrew An to its analytics and trading group, which operates in the secondary market for fixed income structured products.
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Kuwait-based Islamic investment company Rasameel Structured Finance plans to approach the Kuwaiti government with a plan to securitize the risk it will take onto its balance sheet from bailing out Kuwaiti banks, after drafting an industry white paper on the development of the capital markets.
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New York-based start-up financial services firm BenAlon Capital started raising money this month for a $500 million fund that will buy performing, sub-performing and non-performing residential mortgage loans.
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Bombarded by issuer downgrades that are overflowing their CCC buckets, loan portfolio managers are looking to set up funds that will not be rated and will have fewer ratings-based requirements.
