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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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European bank supervisors have switched their approach to excess spread in risk transfer securitizations, paving the way for the stream of full stack capital relief deals issued this year by banks including BNP Paribas and Santander. But questions remain about how the deals handle IFRS 9 accounting, with Santander’s approach potentially boosting principal losses for investors. Owen Sanderson reports. -
Mediobanca’s plan for the next four years involves boosting advisory origination and using capital more efficiently in its corporate and investment bank (CIB). It is also committed to issuing a sustainability themed bond.
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Mizuho has appointed banking veteran Michal Katz to join the firm as the head of banking to oversee all banking activity throughout the US, Canada and Latin America.
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Alternative asset manager Tikehau Capital has appointed Olga Kosters to run the firm’s newly launched private debt secondary markets business.
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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.
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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.
