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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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Citigroup has provided its structured investment vehicles with $7.6 billion in funding, as of Oct. 31, as the market for asset-backed commercial paper has dried up, according to a filing made with the Securities and Exchange Commission yesterday.
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McKee Nelson has hired Alice Yurke from Morrison & Foerster to co-head its structured products group along with William Gray.
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Calyon Credit Agricole CIB has hired Marc-André Poirier from Société Générale to be head of Japan Capital Markets.
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Vanquish Capital Group, a firm that has specialized in finding and exercising control rights as a collateralized debt obligation equity holder, is now considering doing the same as a super senior investor.
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WestLB has beefed up its global securitization group with the addition of a four-man team in London.
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Citigroup has created a task force to manage its assets related to subprime mortgage securities after the bank said it may write down up to $11 billion (after taxes) due to its $55 billion exposure to U.S. subprime mortgages that led to the departure of ceo and chairman Charles Prince.
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Calyon is expected to announce next week a reorganization that will name replacements for senior credit officials who departed in the wake of proprietary trading losses last month (TS, 9/21).
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Diane Wold will be stepping down as the managing director and head of investment banking at GMAC-ResCap at the end of December. She will also leave her post as deputy chair of the board of directors at the American Securitization Forum
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London securitization teams have suffered from widespread job losses from major U.S. investment banks as protracted stagnation in the European market has hit business hard.