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Banker had been at NatWest for three years
New hire to be US head of digital infrastructure finance for combined firm
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Together Money has hired former LibreMax European ABS head Steven Harrison to oversee its loans, mortgage and finance arms. -
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James 'Jim' Amine has left Credit Suisse, which has folded his private credit opportunities business into a different unit.
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The Federal Reserve continued its roll-out of initiatives to support the economy through the Covid-19 crisis this week, including the revival of the term asset-backed loan facility (TALF). However, market participants say the program is incomplete as long as it omits certain asset classes, specifically private label CMBS, and worry that some sectors will buckle without the support of the central bank.
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Intrum’s share price dropped sharply this week after short seller Muddy Waters disclosed it was betting against the firm’s stock price. The debt purchasing sector has been a popular target for short sellers for years, but the impact of coronavirus and associated measures is a further heavy blow.
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Alternative credit specialist CIFC has hired David Walker as head of research.
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The Federal Reserve said this week that it would revive its Primary Dealer Credit Facility, expanding the program to include triple-A rated CLOs, as the central bank dives deeper into the crisis era playbook to stem the fallout from the coronavirus crisis.
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Stress in the commercial paper market was the main point of discussion in a member-wide conference call on Monday held by the Structured Finance Association, as members tried to get a read on market dynamics that are changing on a daily basis.
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The Federal Reserve cut rates for a second time this month on Sunday by 100bp, bringing the target range to near zero. Despite the central bank taking swift action to halt the market decline caused by Covid-19, sources are expecting a painful recession if fiscal policies are not implemented to blunt the impact to the most vulnerable parts of the economy.
