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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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HSBC has appointed Matthew Cannon to head its structured credit trading team in Asia.
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Wachovia has appointed Scott Fisher national sales manager for mortgage sales in its retail branch network, a newly created position for its developing mortgage business. Fisher reports to David Pope, chief operating officer for Wachovia’s mortgage division. Previously, Fisher was president of Wachovia’s Atlanta operations. This position has not yet been filled, said Don Vecchiarello, spokesman.
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DBRS has entered into a strategic alliance with the Chilean rating agency, International Credit Rating (ICR) in a bid to expand its global presence to the Latin American market.
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Deutsche Bank has hired Sean Egeran to structure commercial mortgage-backed securities in London.
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Two big hedge funds at Bear Stearns were close to being shut down last night as a rescue plan developed over several days fell apart in a drama that could have wide-ranging consequences for Wall Street and investors, reports The Wall Street Journal. Merrill Lynch, one of the hedge funds’ lenders, said it would move to seize collateral – much of it mortgage-backed debt – from the two funds and sell it, according to documents received by the paper. At the same time, the funds’ managers worked with a handful of other key lenders, including Goldman Sachs and Bank of America, to pay off the funds’ $9 billion in loans, according to a person familiar with the matter.
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Brevan Howard Asset Management has hired Andrew Budres for its New York office.
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FirstLight Financial, the new middle-market firm, closed on its first admin, agented and lead arranged deal Monday.
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Barclays Capital has hired Pawel Lewicki from JPMorgan as the managing director leading the team that will provide quantitative model development for the securitization derivatives group.
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Bank of New York appointed two executive vice presidents within its global corporate trust division today.