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Securitization People and Markets

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  • Standard & Poor’s today placed on watch for downgrade ACA Capital’s A rating due to the company’s $1 billion third-quarter net loss, which S&P analysts think will inhibit ACA’s ability to attract future business.
  • Norton Rose has hired Islamic finance specialist Farmida Bi from Denton Wilde Sapte as a securitization partner.
  • Payson Swaffield was named chief income investment officer of Eaton Vance.
  • CIBC agreed to sell its U.S. domestic investment banking, equities, leveraged finance and related debt capital markets businesses to Oppenheimer Holdings.
  • Sara Halbard, senior portfolio manager at Intermediate Capital Group, plans to leave the firm in June.
  • Mitchell Harris, a 24-year Wall Street veteran, has left his position as head of treasury and funding at Eurohypo in New York.
  • Carlos Echave, former director and legal counsel of the European Securitisation Forum, has moved over to Mayer Brown to work as a securitization lawyer with the firm.
  • Bank of New York Mellon is making a push to expand its corporate trust presence in Australia and Asia.
  • 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.