Market Moves
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Market moves - 29 March
Europe
Man Group has hired Simon Finch as cio of credit at Man GLG, its discretionary investment management engine. In this newly created role, Finch will be responsible for Man GLG’s credit business and will have oversight of the credit portfolio management teams. He will report to Teun Johnston, ceo of Man GLG, and work closely with Man GLG’s cio, .......
Market Moves 29 March 2018
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Market moves - 16 March
EMEA
Citigroup has appointed Laura Coady to the newly created position of head of EMEA, structured finance syndicate desk and she will continue to report locally to EMEA co-heads of global structured finance and securitisation Peter Keller and Bob Liao, and report globally to Vikram Prasad, global head of credit syndicate desk, taking responsibility for distributing all products from the .......
Market Moves 16 March 2018
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Market moves - 9 March
North America
Market Moves 9 March 2018
Anthony Orso has joined NKF Capital Markets as president of capital markets strategies. Orso will support the integration of Berkeley Point Capital with ARA, two companies recently acquired by NKF Capital Markets, an affiliate of the Newmark Group. He will work closely with Jeff Day, ceo of Berkeley Point Capital and Blake Okland, vice chairman and head of US multifamily. .......
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Market moves - 2 March
North America
Cowen and Company has named Philip Cushman as head of global institutional sales which includes managing both the institutional equity and credit sales teams and Burton Welly has been named head of special situations and distressed credit trading, Cowen and Company, increasing his responsibilities to include all distressed credit trading initiatives. Prior to joining Cowen, Cushman served as md and .......
Market Moves 2 March 2018
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Market moves - 23 February
North America
David Sykes has rejoined Chapman and Cutler as a partner, expanding the firm's San Francisco office and asset securitisation department. Prior to rejoining, he was most recently at Renew Financial where he served as general counsel.
Onex has appointed Tate Abols to its investor relations and fund development team as md. Abols was most recently a principal on .......
Market Moves 23 February 2018
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Market moves - 16 February
EMEA
Fulcrum Asset Management has recruited Mark Horne as a director within the newly created Fulcrum Alternative Strategies team, reporting to partner Matthew Roberts. Horne previously worked as an independent asset management consultant in London and Paris. Prior to that, he was a senior credit manager researcher at Willis Towers Watson and was director of client services at Natixis Global .......
Market Moves 16 February 2018
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Market moves - 9 February
North America
Greystone has hired Anthony Alicea as head of production of the portfolio lending group. He will report to Mark Jarrell, who leads the group, and he will oversee production for the firm's bridge and mezzanine lending products that complement Greystone's lending products. In his 20-year career, he has led CMBS and securitisation projects for Arthur Andersen's real estate .......
Market Moves 9 February 2018
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Market moves - 2 February
North America
CVC Credit Partners has named Gretchen Bergstresser as global head of performing credit - a new role within the firm - having led its US performing credit strategy. Phil Raciti, senior md in CVC's New York office, will become head of US performing credit. Additionally, from 1 February partner and London-based senior portfolio manager Jonathan Bowers will become .......
Market Moves 2 February 2018
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Market moves - 26 January
North America
Schulte Roth & Zabel has elected Stephen Schauder as a partner in the structured finance and derivatives group, working with co-heads Craig Stein and Boris Ziser. Schauder joined the firm as an associate in 2015 after having previously worked at Stroock & Stroock & Lavan in the structured finance department.
CIFC has hired Jay Huang as md, senior .......
Market Moves 26 January 2018
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Market moves - 19 January
Acquisitions
Market Moves 19 January 2018
RenaissanceRe Ventures is set to acquire a minority shareholding in Catalina Holdings (Bermuda), with the aim of helping the business to explore a wider range of transaction structures. The agreement is subject to regulatory approval and is expected to close concurrently with the majority acquisition of Catalina by affiliates of Apollo Global Management. Aditya Dutt, president of Renaissance Underwriting Managers, will .......
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Market moves - 12 January
Acquisition
Acrisure is set to acquire 100% of Beach & Associates equity from the firm's existing shareholders, which include Aquiline Capital Partners and Beach management. Under new ownership, Beach will retain its name and continue to operate as an independent advisory and transactional broking business within Acrisure. The existing Beach management team will remain following the transaction and have elected to become .......
Market Moves 12 January 2018
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Market moves - 5 January
Acquisitions/Investments
Market Moves 5 January 2018
SoftBank Group Corp has acquired Fortress Investment Group for US$3.3bn in cash and now – along with its subsidiaries – owns all outstanding Fortress shares. Fortress shareholders approved the transaction last summer and all necessary regulatory approvals have now also been received. As a result of the acquisition, each outstanding Fortress class A share has been converted into the right to .......
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A trade named sue
A point of law
So, Barclays Capital is about to be up before the beak. For the uninitiated, that's London slang for a judge. Well, really it means a magistrate, but no point in going into the intricacies of English Law here - apologies if that caused a shudder of recognition from any of you: it probably seemed like a good fee-saving idea at the .......
Market Moves 16 August 2006
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Bear brings new ABS CDO
A round up of this week's structured credit news
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Bear brings new ABS CDO
Market Moves 16 August 2006
In a new twist on the normal CDOs of ABS, Bear Stearns has launched the EUR450m Colonnade I, a partially synthetic CDO of European mezzanine ABS, for the Morgan Stanley Global Proprietary Credit Group. Typically CDOs of ABS are cash, and although this has in some ways been made to look like a cash deal it .......
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Synthetically managing bond portfolios
Replicating bond indices using credit derivatives
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Dominic Kini, Quantitative Credit Strategist at ABN AMRO, and Gregorios Venizelos, Credit Derivatives Strategist, at ABN AMRO, explain the benefits and mechanics of bond index replication. This article focuses on a low cost, highly liquid synthetic replica of the iBoxx EUR Corporates Index constructed using interest rate swaps and iTraxx Europe. We first described such a structure .......
Market Moves 9 August 2006
Fitch launches stability scores
A round-up of all the week's structured credit news
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Fitch launches stability scores
Market Moves 9 August 2006
Fitch Ratings has launched a set of stability scores for synthetic CDOs that are designed to provide a better understanding of the prospective stability of ratings assigned to CDO tranches by indicating the propensity of a tranche to retain its original rating over a period of one year from closing. The move follows a consultation period with .......
BGI expands credit research
The latest people and company moves
BGI expands credit research
Asset manager Barclays Global Investors (BGI) has announced the appointments of leading academic and industry experts to its extensive global research staff. BGI has built one of the largest scientific research organizations in asset management, with an annual commitment to research of over $120 million. In credit the hires are as follows:Scott Richardson has joined as .......
Market Moves 9 August 2006