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Securitization People and Markets

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  • GSC Group has two collateralized debt obligation squared deals in the works. The Florham Park, N.J.,-based CDO manager is doing the deals now because of the good arbitrage available.
  • Citigroup is looking to beef up its balance sheet synthetic structuring business in London as part of a global credit structuring reorganization.
  • New York-based hedge fund Paulson & Co hit paydirt last month with a series of derivatives trades that gave it short exposure to subprime mortgage asset-backed securities.
  • Mizuho Securities has added two professionals to its fledgling collateralized debt obligation group.
  • Bill Tomljanovic, executive v.p. and head of asset-backed securities and corporate credit at ACA Capital, is leaving the company.
  • Moody's Corporation and CA-Ratings have agreed to acquire Johannesburg-based CA-Ratings, which will merge with Moody's Investors Service South Africa. The transaction is expected to close within 30 to 60 days, in accordance with South African law. CA-Ratings was established in 1993 and provides credit rating services in the structured finance, financial institutions and corporate finance markets.
  • U.K law firm Carey Olsen is making a push to entice London-based investment banks and financial institutions to domicile securitization special purpose vehicles in the off-shore jurisdictions of Jersey and Guernsey.
  • Three staffers have left UBS and are headed to Royal Bank of Scotland.
  • IntraLinks, known for its On-Demand Workspace, will be expanding its loan syndication offering to incorporate a deal and investor relationship management system this fall, according to Andrew Fieweger, v.p. of product management.