Complete news archive

  • IDB promotes Asia Pacific pair

    BGC Partners has promoted Vanessa Ko to director and regional head of e-commerce for Asia Pacific and Norliza Kamardin to associate director of e-commerce for Asia.

    Ko will spearhead the continued expansion of BGC's electronic coverage in the region with its electronic platform, BGC Trader. She joined BGC in 2005 as a product manager for credit and has been responsible .......

    Job Swaps 8 September 2010

  • Real estate firm adds acquisitions director

    William Broms has joined Cole Real Estate as director of acquisitions. He will focus on sale-leaseback transactions, while helping Cole diversify its portfolio and secure investment grade and net-leased properties in key markets across the US.

    Prior to joining Cole, Broms served as acquisitions director for Realty Income, one of the largest public REITs in the US. Here he was .......

    Job Swaps 8 September 2010

  • Asset manager acquisition integrated

    F&C Asset Management has completed its acquisition of Thames River Capital and made two key appointments to its executive committee. In the enlarged group, Thames River will focus on distribution to IFAs and wealth managers, while F&C will concentrate on institutional distribution.

    Charlie Porter, founder and chief executive of Thames River, joins the F&C executive committee with overall responsibility for .......

    Job Swaps 8 September 2010

  • Partners added to investment funds group

    Dechert has appointed Achim Pütz as partner in its financial services and investment management group in Munich. Pütz was previously a partner at SJ Berwin and head of the firm's German financial markets Group. He is also the founder and chairman of the German Alternative Investment Association and has extensive experience advising clients on traditional and alternative investments.

    Pütz's arrival .......

    Job Swaps 8 September 2010

  • CME adds md for OTC risk

    CME Group has hired Alexandar (Sasha) Rozenberg as md, Over-the-Counter Risk for CME Clearing. He joins from SuperDerivatives, where he was product manager, credit derivatives and acting head of quantitative analytics.

    Rozenberg will be responsible for advancing the company's OTC risk management policies and practices. He will be based in New York and will report to Tim Doar, md, risk .......

    Job Swaps 8 September 2010

  • Trading trio move again

    Knight Capital Group has recruited Todd Dahlstrom, Michael Cunningham and Eric Vander Mel, all from FBR Capital Markets' credit sales and trading team. All three joined FBR from Morgan Stanley last year. The trio will be based in Knight's Boston office.

    .......

    Job Swaps 8 September 2010

  • Promotion for credit strategist

    Loomis, Sayles & Company has promoted Chris Gootkind to director of credit research & credit strategy in its fixed income group. He also joins the investment grade sector team, where research ideas are introduced into client portfolios. He will report to Jae Park, cio in the firm's fixed income team.

    Gootkind assumes leadership of Loomis Sayles' 37 person credit research .......

    Job Swaps 8 September 2010

  • Investment manager names new SF head

    AXA Investment Managers has appointed Laurent Gueunier as head of structured finance. He will report to Dominique Carrel-Billiard, the firm's ceo, and joins AXA's executive committee.

    Gueunier replaces Pierre-Emmanuel Juillard, who - after 10 years with the firm - has joined Goldman Sachs as a partner in Asia, outside the asset management industry.

    Gueunier joined AXA IM's management teams in .......

    Job Swaps 8 September 2010

  • Risk management firm opens in China

    Kamakura Corporation has opened new offices in Beijing and Shanghai to support its rapidly growing client base and distribution partners in China. The new offices will be headed by Kamakura md Li Li, who will work closely with distribution partner Fiserv and clients in Beijing, Shanghai, Xiamen and Hong Kong. The offices will also support Fiserv and clients in Malaysia .......

    Job Swaps 8 September 2010

  • RMBS fund launched

    Performance Trust Investment Advisors (PTIA) has launched its first mutual fund, the Performance Trust Total Return Bond Fund (PTIAX), a no-load fund that invests across the fixed income market.

    Its objective is to purchase undervalued fixed income assets and achieve investment returns from both interest income and potential capital appreciation. The fund invests in government and agency paper, including both .......

    Job Swaps 8 September 2010

  • Analytics vendor names federal service md

    RiskSpan has appointed Allen Jones as md of its federal service - FHA and HAMP - consulting practice. He will be based in Washington, DC.

    Jones most recently served as Bank of America's government lending executive, where he managed the transition and integration of Countrywide under the BOA umbrella. Prior to this, he worked for HUD as senior advisor to .......

    Job Swaps 8 September 2010

  • Reinsurance pricing weighs on ILS recovery

    The ILS market appears to be regaining its confidence following the effective closure it experienced between late 2008 and mid-2009, according to S&P. However, the rating agency believes that pricing levels for traditional reinsurance and ILS need to become more closely aligned and both the investor and issuer bases to expand greatly for long-term convergence to occur between the two .......

    News 8 September 2010

  • CLO credit estimate conversion updated

    Moody's is to begin using an updated conversion of credit estimates when communicating rating factors to EMEA CLO managers.

    Under its current practice, Moody's gives a credit estimate to EMEA CLO managers using a rating factor in the low end of the range that corresponds with the credit estimate. It now plans to implement the new practice using a rating .......

    News Round-up 8 September 2010

  • Attractive Japanese property market boosts CMBS

    Moody's indicates that, given the recent growth in property transactions in Japan this year, the resolution of specially serviced loans has accelerated. This, the agency says, may lead to lower expected losses in CMBS loans.

    Moody svp Tetsuji Takenouchi says: "Investors are gradually returning to Japan's commercial real estate property market. In just the last month or so, Moody's has .......

    News Round-up 8 September 2010

  • Aussie RMBS delinquencies stable in Q2

    The ability of Australian borrowers to pay down their mortgages - as measured by delinquency rates - stabilised in Q210, according to Moody's.

    Prime mortgage delinquencies greater than 30 days held steady at 1.39%, compared to 1.34% in Q110. Non-conforming mortgage delinquencies greater than 30 days rose to 13.74% in June from 13.02% in March.

    Arthur Karabatsos, Moody's analyst in .......

    News Round-up 8 September 2010

  • Minimal sovereign exposure for APAC CDOs

    S&P has undertaken two studies on potential corporate and sovereign exposures in the reference portfolios of Asia Pacific synthetic CDOs (SCDOs) in response to the continued uncertainty in global debt markets. The studies found exposure to be minimal and not a cause for concern.

    The agency says that in both studies it used a reference count of how often a .......

    News Round-up 8 September 2010

  • RFC issued for market value securities

    S&P has requested comments on changes it is proposing to its methodology and assumptions for rating market value securities. The agency's proposal focuses on the market value analysis it will apply to rate market value CDOs (MV CDOs), SIVs, certain extendible ABCP programmes and leveraged closed-end funds regulated in the US under the 1940 Investment Company Act.

    The proposed changes .......

    News Round-up 8 September 2010

  • Argentina securitisation activity to grow

    Led by infrastructure deals and consumer loan-backed transactions, Argentina's domestic securitisation activity should continue to grow during the second half of 2010, according to Moody's.

    During the first seven months of 2010, structured finance issuance totalled the equivalent of US$3.2m, representing a substantial increase of 94% year-over-year, the agency notes. Excluding five large infrastructure-related transactions sponsored by the Argentine government, .......

    News Round-up 8 September 2010

  • Encouraging trends for US credit cards

    According to Fitch's latest credit card index results, defaults on US credit cards touched a 15-month low, while late payments improved further. All of the major card issuers exhibited month-over-month improvements.

    Fitch md Michael Deans says: "The trends are encouraging, but card defaults are still elevated historically and will remain so. Unemployment will continue to weigh on consumer credit quality .......

    News Round-up 8 September 2010

  • Euro CMBS repayments remain 'flat'

    Fitch reports that its European CMBS Maturity Repayment Index remained roughly flat at 37% over the month of August, although three of the four loans that matured during the month were repaid in full.

    The repaid loans are the Phone France loan (securitised in the Taurus CMBS (Pan-Europe) 2006-3 deal), the Nuremberg loan (Quirinus (European Loan Conduit No. 23)) and .......

    News Round-up 8 September 2010

  • Confidential rating procedures revised

    S&P has announced that, from 7 September, it will only assign confidential ratings for issuers' own internal use. In addition, issuers requesting confidential ratings must not distribute the ratings to any third party.

    Ratings that issuers wish to disclose on a confidential basis to a limited number of third parties will be labelled 'private ratings', under S&P's new procedures. These .......

    News Round-up 8 September 2010
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