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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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Nationwide Building Society has promoted treasury official Carly Thomas to a newly created role, tasking her with leading the firm's strategy in sustainable finance. -
Tesco Bank is said to have mandated Citi to run a sale process for its £3.7bn book of UK mortgages, after it decided to pull out of the market, blaming cut-throat competition. But the move has drawn attention to a proposed UK law to help ‘mortgage prisoners’, which could stop UK mortgages trading at all, writes Owen Sanderson.
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JP Morgan picks levfin top brass — Ex-Barclays boss turns up at Wells Fargo — Fixed income portfolio manager leaves Mirova.
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Business debt has reached near record levels that should give businesses and investors reason to “pause and reflect”, warned Jerome Powell, chair of the US Federal Reserve, this week.
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HSBC has started a programme to sell some of its trade finance exposures in packaged, investor-friendly format, threatening a lucrative niche until now occupied by firms such as Greensill Capital. The bank, the largest trade finance lender in the world, has worked with AllianzGI to sell the short dated bond-like assets.
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Tesco Bank is looking to sell its £3.7bn mortgage book after announcing that it will cease new mortgage originations. The lender is exploring options to facilitate a complete transfer, but the news has drawn attention to a bill proposed in the UK parliament which would grant borrowers the ability to transfer mortgages between providers.
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As it continues to boost its platform, CLO manager DFG Investment Advisers announced on Tuesday that it has hired John Hwang as a director in its leveraged credit team.
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A post-crisis CMBS loan tied to a UK retail property has defaulted, only the second CMBS 2.0 default seen to date, pointing to continued weakness in the retail sector.
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John Berrigan, deputy director general at the European Commission, has said that the creation of a European safe asset, and in particular European Safe Bonds, would be difficult to achieve.
