Latest news
Latest news
European and high yield chiefs to take the reins
Kevin Duignan to retire after 33 years, mainly in structured finance
First European buy now, pay later securitization expected next year
More articles
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In September, LendingClub excluded individual investors in five states from investing on its platform without an explanation. While the reason was undisclosed for nearly two months, the company revealed this week that the change in eligibility is a product of the many steps it is taking to obtain a bank charter. -
Funding Circle has breached the terms of its securitization SBOLT 2018–1 — a book of loans originated on the platform and was bought by Pollen Street Capital’s P2P Global fund. The breach was driven by a shift in the company’s business model from a pure tech platform to a non-bank lender using its own capital. Funding Circle has asked investors to waive the breach.
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The Pennsylvania Department of Banking and Securities hit SoFi with a $110,000 fine for servicing mortgage loans without a license.
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Mark Myers, executive vice president and head of commercial real estate (CRE) at Wells Fargo, is set to retire in February 2020 after nearly forty years with the bank.
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The market for legacy UK and Irish mortgages is large and diverse, but it has one monster buyer, Pimco. The California-based bond investing giant has bought bonds backed by more than £12bn of loans from the UK government’s bad bank in the last two years, almost all of which went into its $75bn Income Fund, writes Owen Sanderson.
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Newly appointed EMEA investment grade DCM head Mark Lewellen has outlined the management team for Deutsche Bank’s bond operations in the region, creating a new role running real estate origination, giving Achim Linsenmaier responsibility for the public sector business, and giving Federica Calvetti environmental, social and governance responsibilities.
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HSBC has begun the process of finding a new global head of debt capital markets, as company veteran Jean-Marc Mercier changes jobs to become vice-chair of capital markets.
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Credit Suisse’s third quarter results, released on Wednesday, continued a trend for the bank this year: suffering in the primary markets but doing well in trading.
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Distressed loans using US documentation are some of the slow trades to settle in the capital markets, with an average time of 67 days, reflecting onerous legal requirements under the Loan Syndication and Trading Association standard terms. A new tool released by IHS Markit as part of its ClearPar loan settlement platform has the potential to slash this delay, with a recent trade by Deutsche Bank taking just 10 days to settle.
