Complete news archive

  • NewOak enlists credit vet

    NewOak has appointed Triet Nguyen as an md in its corporate and municipal credit solutions group. He will help the team to build out its capabilities and assist clients in fundamental credit assessment, surveillance and portfolio monitoring.

    Nguyen was most recently a managing partner at Axios Advisors, which he founded in 2002. He has also worked at Ziegler Capital Markets, .......

    Job Swaps 30 September 2014

  • Product delivery head added

    Ian Mattinson has joined Fitch Solutions as a senior director and head of product delivery and execution. He will report to md and global product head Brian Filanowski, who joined in the summer (SCI 18 July). Mattinson was previously at Thomson Reuters, where his most recent role was head of product management.

    .......

    Job Swaps 30 September 2014

  • Western US CMBS expansion eyed

    Greystone has appointed Erik Edwards as an md. He will be based in San Diego and report to Robert Russell, head of production for the firm's CMBS group.

    Edwards will focus on originating new loans and establishing a stronger CMBS presence for the firm in the western US. He was previously at Wells Fargo and has also worked at iStar .......

    Job Swaps 30 September 2014

  • CRE platform purchase lined up

    Walker & Dunlop will acquire Johnson Capital's loan origination and servicing platform. Terms of the cash and stock transaction have not been disclosed, although completion of the acquisition is expected to close around 1 November.

    Johnson Capital specialises in CRE mortgages and maintains long-standing brokerage relationships with many life insurance companies, banks and CMBS conduits. It is an approved HUD .......

    Job Swaps 30 September 2014

  • UK RMBS takes attention

    Following on from only patchy trading in peripherals, including some selling, in yesterday's session the European RMBS market may give its full attention to UK RMBS today with two notable BWICs in the sector circulating.

    Due at 11:00 London is an 11 line list of UK Prime deals with tranches denominated in sterling, euros and dollars. It consists of: FOSSM .......

    SCIWire 30 September 2014

  • PIMCO chief moves on

    PIMCO founder Bill Gross has left the firm to take up a role at Janus Capital Group, where he will join former PIMCO colleague Richard Weil. Gross is expected to focus on bond investments and will manage the recently-launched Janus Global Unconstrained Bond Fund and related strategies. The move comes after recent reports that the US SEC is investigating alleged .......

    Job Swaps 29 September 2014

  • LCM's London arm acquired

    Guggenheim Securities is set to acquire the London operations of Lazard Capital Markets (LCM), expanding the firm's international presence. Subject to approval by the UK FCA, the business will operate under the new name of Guggenheim Securities International.

    As part of the acquisition, LCM's team of 10 professionals - led by Duncan Riefler - will join Guggenheim. Riefler, who ran .......

    Job Swaps 29 September 2014

  • US CDOs in focus

    It looks set to be a busy day today in US CDOs across Trups, CRE and ABS deals.

    In terms of Trups deals, the FDIC is likely to announce its next and ninth auction list later today having missed a week last week due to expectations of a quiet market as a result of ABS East and the Jewish New .......

    SCIWire 29 September 2014

  • Grand Mart loss restated

    The September remittance report for the US$14.1m Grand Mart Chicago Portfolio loan - securitised in MSCI 2007-TOP27 - shows a revised loss severity of 100% for the asset. The CMBS loan was resolved last month, but the August remittance reported a 140% loss severity, with a realised loss of US$19.8m - including US$5.7m in interest shortfalls.

    Fitch notes that the .......

    News Round-up 29 September 2014

  • SCI Start the Week - 29 September

    A look at the major activity in structured finance over the past seven days

    Pipeline
    The pace of deals joining the pipeline slowed last week. Two new ABS were announced, as well as one RMBS, one CMBS and two CLOs.

    The ABS were €678m Cars Alliance Auto Loans France V 2014-1 and US$240m MVW Owner Trust 2014-1. The RMBS was US$483.562m JPMMT 2014-IVR3.

    US$570m BLCP Hotel Trust 2014-CLRN was the sole CMBS to .......

    News 29 September 2014

  • OTC clearing sales head named

    Newedge has appointed Jamie Gavin as head of institutional OTC clearing sales for the UK. He will report to UK head of institutional sales Will Davies and take responsibility for both OTC clearing institutional sales and for leading the development of its OTC clearing proposition.

    Gavin was previously global head of change for listed derivatives and OTC clearing at Morgan .......

    Job Swaps 29 September 2014

  • ECB Thursday looms

    The general spread tightening seen in European ABS, CLOs and MBS over last week is expected to hold firm or increase in the run-up to the ECB meeting and promised further details on ABSPP on Thursday. Given current levels the possibility now looms that anything other than entirely positive news from the ECB could send prices lower across the board.

    SCIWire 29 September 2014

  • SME CLO delinquencies stabilising

    Fitch-rated Spanish SME CLO delinquency rates have stabilised over the last 12 months. Stabilisation of delinquencies at high levels is in line with the agency's expectations, which take account of the country's economic recovery but see collateral performance under pressure following almost five years of economic contraction.

    Delinquencies have fallen to an average of 3.9% over the last 12 months, .......

    News Round-up 26 September 2014

  • Trading picks up again

    Trading in Europe has exceeded expectations as today has worn on with BWIC lists being added for all deal types and continued bilateral activity. The US markets are seeing similar moves.

    "There have been quite a number of lists added, which is something of surprise - we all thought it was going to stay quiet today," says one trader. However, .......

    SCIWire 26 September 2014

  • Busy session for Euro RMBS

    Yesterday proved to be a busy session for secondary European RMBS. SCI's PriceABS data captured a long list of bonds out for the bid, several of which were covered.

    Among the names circulating yesterday was a €5.478m piece of the €50m CASTO 1 A tranche, which was talked at 99 handle, mid-99 and 99.51. The tranche first appeared .......

    Market Reports 26 September 2014

  • European markets quieter

    It's a quieter day today so far across European structured finance secondary markets.

    There is only one euro CLO lists scheduled for today so far, though there is continuing interest in bonds in the bilateral market. A flurry of ABS and MBS BWICs are circulating today, inevitably including a significant proportion of peripheral names, but not in as large a .......

    SCIWire 26 September 2014

  • Iberian TD sector sustainable?

    Electricity tariff deficits (TD) in Spain may have peaked in 2013, while Portuguese TD will peak next year, Fitch suggests. The agency expects the total stock of TD in both countries to start falling in the coming quarters, potentially restoring financial sustainability to their electricity systems, although risks to system sustainability have not disappeared.

    Fitch's base-case forecasts see Spain's cumulative .......

    News Round-up 26 September 2014

  • Manager adds marketing pro

    3i Debt Management has appointed Shane Miller as a marketing director in its New York office. He was previously at Angelo Gordon and has also worked at Bear Stearns and Lehman Brothers.

    .......

    Job Swaps 26 September 2014

  • US RMBS stays in range

    Spreads have been range-bound in US RMBS today as the market remains in a post-ABS East and Jewish holiday lull.

    "Trading is fairly light for quarter-end with only around $200m out for bid today," says one trader. "It mainly seems to be people, including some money managers, clearing odd-lots."

    Today is also remit day in non-agency RMBS, which will have .......

    SCIWire 25 September 2014

  • Transparency conundrum

    IPV best practices surveyed

    The majority of independent price verification (IPV) and valuation professionals polled by SCI, in partnership with Fitch Solutions, use multiple data sources for verification processes and reserving methodologies when valuing CDS. However, different approaches to consensus pricing suggest that an industry standard is yet to evolve.

    A dominant theme revealed by the SCI/Fitch Solutions 2014 CDS IPV Survey is the .......

    News Analysis 25 September 2014

  • Credit hedge funds specialist hired

    Virginie Afota has joined the Abu Dhabi Investment Authority as a senior fund manager in its fixed income and treasury department.

    Afota was previously a hedge fund analyst at Unigestion. She has also worked at Lonestar Europe, SPQR Capital, AXA Investment Managers and Goldman Sachs and has experience across fixed income, credit, derivatives and structured products.

    .......

    Job Swaps 25 September 2014
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