Sector developments and company hires

ILS

TigerRisk Partners has hired Stephen Fromm as vice chairman of TigerRisk capital markets and advisory. In his new role, Fromm will act as a senior investment banker focusing on insurance industry M&A, capital raising and strategic advice. Fromm was previously md and vice chairman of financial institutions investment banking at Deutsche Bank.

MBS purchase plans

The Bank of Canada has expanded the assets it acquires outright to include the purchase of Canadian dollar federal government-guaranteed debt securities issued by federal Crown corporations. Under these changes, the bank plans to allocate “a small portion” of its balance sheet for purchasing mortgage bonds on the primary market on a non-competitive basis, commencing in late 2018 or 1H19. The bank says the move is part of the regular management of its balance sheet through acquiring securities to offset its liabilities, as well as providing it with more flexibility to reduce its participation at primary auctions of government bonds where necessary to support their secondary market liquidity.

US

Fitch has hired five senior analysts to its Toronto, Canada office including Michael Buzanis, who joins the firm's North American structured finance group, where he will focus on the Canadian market while supporting cross border and US originated transactions. Buzanis worked as a principal at Silver Ash Financial Consulting prior to joining Fitch.