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Latest news
Debut manager is launching a CLO platform building on leveraged loan market experience
Andrew Burgess worked at Prytania for 16 years
Public versus private distinction scrapped for disclosure plus new, simplified templates for mature asset classes
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U.S.-based hedge fund, Citadel Investment Group, has snapped up ex-Lehman Brothers head, Alex Maddox, to head its European securitized products group.
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Denver-headquartered Allon Financial has started up as a due diligence provider that will give independent disclosures on loan pools’ quality and character.
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John Uhlein, chief of U.S. structured finance at Ambac, is leaving the company. Diana Adams, senior managing director of the international business, and Tim Stevens, a senior managing director in structured capital markets, will take over his duties, according to an internal memo.
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Lehman Brothers will cut 750 jobs in European fixed income and personal investment management after talks to find a buyer failed. The redundancies were effective as of today, according to a statement by PricewaterhouseCoopers, which is Lehman's bankruptcy administrator in the U.K. “It is extremely disappointing that despite exhausting all avenues these jobs could not be saved. As we move into our third week, we continue to be focused on maximising the value of recoveries for creditors, whilst minimising the impact on other stakeholders as much as possible,” Tony Lomas, partner, said in the statement. Lehman filed for bankruptcy on Sept. 15.
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NewOak Capital, the New York-based firm recently started by Ron D’Vari and James Frischling, has scooped up five managing directors.
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Jones Lang LaSalle is setting up an advisory group in London to help U.K. investment banks and High Street lenders sort out their exposures to commercial real estate debt.
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Austin, Texas-based broker-dealer Amherst Securities Group, which specializes in residential mortgage-backed securities, has added six senior sales and trading professionals and opened offices in New York City and Santa Monica, Calif.
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Lloyds TSB has bolstered its securitization operation by hiring Patrick Cogan as a director in its securitized products group.
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The moves by Morgan Stanley and Goldman Sachs to become bank holding companies regulated by the Federal Reserve should not have an effect on the loan market, market participants said.