Market Moves

  • Securitised products head retires

    Sector developments and company hires

    Bank SPG head retires

    Lloyds Bank is making several changes to leadership positions in its North America business, to boost services provided to clients in the region focused on Lloyds Bank’s US-UK gateway. Parker Russell, head of the US securitised products group (SPG), has decided to retire after eleven years with the group and a finance career spanning over thirty .......

    Market Moves 19 June 2019

  • Ratings slip-up leads to downgrade

    Company hires and sector developments

    Acquisitions

    PERILS has acquired Toronto-based Catastrophe Indices & Quantification (CatIQ), a provider of catastrophe loss and exposure information in Canada. CatIQ will continue to be managed day-to-day by Joel Baker, ceo and founder, while md Laura Twidle will continue to lead the CatIQ team. The firm will also maintain its 11-member advisory board, which includes senior representatives from .......

    Market Moves 18 June 2019

  • Risk firm in international ILS hiring spree

    Sector developments and company hires

    BD appointed

    IHS Markit has appointed Sandrine Markham director, business development for Debtdomain in EMEA and APAC, reporting to Patricia Tessier, md and co-head of loan platforms at the firm. With more than 20 years’ experience in financial data and financial technology, Markham played a transformational role at Debtdomain from start-up to becoming a leading loan syndication platform in EMEA. .......

    Market Moves 17 June 2019

  • Law firm expands SF expertise

    Company hires and sector developments

    Clean energy firm names cfo

    Renew Financial has named Mary Kathryn Lynch cfo, having previously served as the firm’s evp of finance and leading its capital markets team in executing three rated securitisations in 2017 and 2018. She has 10 years of experience in the clean energy industry, working with Sunrun and VoteSolar. Prior to that, she worked at UBS, .......

    Market Moves 14 June 2019

  • CLO firm boosts originations expertise

    Company hires and sector developments

    CLO firm boosts originations team

    Monroe Capital has expanded its direct originations team with the addition of seven experienced investment professionals: David Fischer and Nick McDearis in the firm’s Atlanta office; Dan Letizia and Tommy Ryan in its Chicago office; and Jack Bernstein in the New York office. In particular, Fischer and McDearis have been named mds and will co-lead .......

    Market Moves 12 June 2019

  • Advisor boosts SF expertise

    Sector developments and company hires

    Acquisitions

    Greensill has acquired receivables securitisation specialist Finacity which will now become a wholly-owned part of Greensill. The move comes shortly after Softbank invested US$800m in Greensill. Finacity’s ceo, Adrian Katz, will continue in his role under Greensill’s ownership.

    Advisor, broker boosts structured finance expertise

    finnCap Group has expanded its debt advisory team with two senior new hires. The enlarged team .......

    Market Moves 11 June 2019

  • Europe sees 1Q issuance dip

    Sector developments and company hires

    ABS vet nabbed

    Angelo, Gordon & Co has hired Sunil Kothari as md, responsible for originating and executing on residential and consumer debt investment opportunities across Europe. Kothari reports to TJ Durkin, co-head of structured credit at Angelo Gordon. Kothari most recently served as evp, pm at PIMCO Europe, where he was head of the European ABS and covered bond desks .......

    Market Moves 10 June 2019

  • Livestock first inked

    Sector developments and company hires

    Australian livestock deal debuts

    StockCo has launched the first securitisation warehouse transaction in Australia consisting of financing receivables primarily secured by livestock. The transaction has been completed with Goldman Sachs and the facility will be available for three years and will be able initially to accommodate up to US$150m of livestock receivables subject to pre-agreed eligibility criteria, and .......

    Market Moves 7 June 2019

  • New P2P platform rules announced

    Sector developments and company hires

    ABS facility expands

    Amigo Holdings has increased its securitisation facility to £300m. It has a three-year term and is set to close on Thursday. The company intends to use drawdowns from the facility for general corporate purposes and the potential repayment of indebtedness. The facility, which has a minimum three-year term and amortises thereafter, will have a funding .......

    Market Moves 5 June 2019

  • Agri-linked note prepped

    Company hires and sector developments

    Agri-linked note prepped

    The African Development Bank has approved a €100m partial credit guarantee (PCG) to African Agriculture Impact Investments (Mauritius) to develop commercial agriculture in Africa. The company will leverage the PCG to catalyse additional financing from international pension funds through an agri-linked note to facilitate investments in sustainable farmland and agricultural infrastructure across Africa. It will .......

    Market Moves 4 June 2019

  • Bank bulks up commodities expertise

    Company hires and sector developments

    Bank bulks out commodities unit

    Credit Agricole has hired Aude Sauty de Chalon as director, structured commodity finance, EMEA. She was previously deputy head of commodity and structured finance at ICBC, London. The firm has also hired Badia Taleb-Nehlil as ed, structured commodity finance at the same bank and both hires are based in London.

    Verification agent expands

    Market Moves 3 June 2019

  • Bank nabs CLO expert

    Company hires and sector developments

    Mizuho has hired Stefan Stefanov as director, Euro CLO specialist and he will report in to Juan-Carlos Martorell and Andrew Feachem in the securitised products and structured finance team. Stefanov will join in July from Commerzbank where he was director in the treasury investment office. In this newly created role, he will be performing a structuring, origination and syndication .......

    Market Moves 31 May 2019

  • Indian RMBS market in the works?

    Sector developments and company hires

    Alt sales head hired

    Schroders has hired Peter Arnold to lead its alternative sales unit, which was established last year and focuses on the distribution of the firm’s private assets investment offering, which includes ILS and securitised credit. He reports to Schroders global head of distribution John Troiano and global head of private assets Georg Wunderlin. Arnold was .......

    Market Moves 30 May 2019

  • Agency acquisition announced

    Sector developments and company hires

    Agency acquisition

    Morningstar has entered into a definitive agreement to acquire DBRS, the world’s fourth-largest credit ratings agency, for a purchase price of US$669m. The combination of DBRS with Morningstar Credit Ratings’ US business will expand global asset class coverage and provide an enhanced platform for providing investors with leading fixed-income analysis and research. Morningstar intends to fund the transaction with a mix of .......

    Market Moves 29 May 2019

  • Co-cio and liquid markets head appointed

    Company hires and sector developments

    Credit expert poached

    Crestline Investors has appointed Michael Aingorn as an md, based in New York and reporting to Keith Williams, managing partner - credit strategies. Aingorn was previously a partner at American Industrial Partners, where he helped launch the firm's credit opportunities strategy focused on investing in North American-based middle-market industrial companies. Prior to AIP, he worked at BTG .......

    Market Moves 24 May 2019

  • Positive performance prompts upgrades

    Sector developments and company hires

    Director hired to rebranded CLO platform

    DFG Investment Advisers has hired John Hwang as a director and senior credit analyst on its leveraged credit team, responsible for analysing below-investment grade credit with a focus on leveraged loans for the Vibrant CLO platform. Hwang has 18 years of experience in the financial services industry and was previously an svp at Crescent .......

    Market Moves 22 May 2019

  • UK CMBS loan defaults

    Company hires and sector developments

    Euro CMBS 2.0 default

    Elizabeth Finance 2018 has become the second European CMBS 2.0 deal to suffer a loan EOD, after the Maroon Properties were valued at £86m - a decrease of £18.7m from the initial valuation in November 2017 – triggering an LTV covenant breach. Based on the updated valuation, the Maroon LTV is 77.7%, whereas the Maroon obligors .......

    Market Moves 20 May 2019

  • CLO director nabbed

    Company hires and sector developments

    Europe

    Hermes Investment Management has hired Kevin Roche as a director for private debt and CLOs. Reporting to the head of direct lending, Laura Vaughan, Rochewill be based in London and will work across the private debt platform. He was previously a director at Allied Irish Banks, where he was responsible for delivering leveraged finance loans to mid-market private .......

    Market Moves 17 May 2019

  • CMBS sees prompt prepayment

    Company hires and sector developments

    Auction platform

    Mortgage Capital Trading has launched Trade Auction Manager (TAM) to enable more efficient bidding of TBA MBS used by lenders to hedge their open mortgage pipelines. The browser-based software module is accessible via MCTlive!, the company’s capital markets platform. TAM digitises a formerly manual communication process to confirm time-sensitive TBA trades that were once largely phone-based .......

    Market Moves 16 May 2019

  • Senior appointments abound

    Company hires and sector developments

    Acquisition

    Priority Income Fund has completed its acquisition of Stira Alcentra Global Credit Fund (SAGC), after the latter’s shareholders approved the transaction at a special meeting on 6 May. The exchange ratio at which common shares of SAGC were converted to common shares of Priority was based on the applicable class of SAGC shares and Priority’s most recent estimated net .......

    Market Moves 14 May 2019

  • Energy expert nabbed

    Company hires and sector developments

    Energy expert nabbed

    Energy Estate has hired Christian Krebs as one of the leaders in its transaction advisory practice and will be closely involved with debt and equity fund raising for projects and businesses, beginning 1 July. Krebs was previously at NordLB where he was head of structured finance origination Asia/Pacific.

    Transaction gets green stamp of approval

    Greenworks Lending recently received the very first Green Evaluation .......

    Market Moves 8 May 2019
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