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Norton Rose Fulbright and Katten have added to their legal teams
Asset manager wants to offer more products to institutional investors
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Morgan Stanley’s Steve White has been elected chairman of the European Securitization Forum after White’s ex-colleague Robert Palache left the position following his recent departure from Morgan.
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Norton Rose has hired Karl Rogers, a structured finance and derivatives specialist, as a partner in its Dubai offices.
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Many Bear Stearns loan desk employees are expecting to be let go by the time the firm gets bought by JPMorgan Chase, according to a banker on the loan desk. “We’re just waiting for JPMorgan to come in and see what it needs and what it doesn’t need. [The loan business] is definitely a business they don’t need at all. They already have one and it’s one of the biggest in the industry. Best case, they take a few guys.”
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A number of Bear Stearns loan desk employees are expecting to be let go by the time the firm gets bought by JPMorgan Chase, according to a banker on the loan desk. “We’re just waiting for JPMorgan to come in and see what it needs and what it doesn’t need. [The loan business] is definitely a business they don’t need at all. They already have one and it’s one of the biggest in the industry. Best case, they take a few guys.”
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Tad Philipp, a veteran of the commercial mortgage-backed securities industry, left Moody’s Investors Service last week.
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The Street has been buzzing this afternoon with rumors of an acquisition of Bear Stearns by either JPMorgan or Barclays Capital as early as the end of today.
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JPMorgan’s 28-day secured loan facility for Bear Stearns is for an unlimited amount so long as it's tied to Bear Stearns assets, according to a banker familiar with the matter.
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Apollo Real Estate Advisors has hired longtime commercial mortgage-backed securities trader John Beaman to head trading for its Claros Real Estate Security hedge fund.
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Bank of America's Hong Kong debt capital markets team--the team responsible for collateralized debt obligations in the region--has been reduced to four people from approximately eight.