Sector developments and company hires

P2P head hired

Dynamic Credit has hired Giles Andrews as chairman of its supervisory board. The board will have three members and serves to strengthen the corporate governance of Dynamic Credit Group (DCG), which comprises of the asset manager and direct lender Dynamic Credit and the investor servicing platform LoanClear. Andrews is co-founder of Zopa and, in addition to his new role, also acts as chairman at MarketInvoice and non-executive chairman of Bethnal Green Ventures.

Infra director appointed

JCRA has hired Dawn Kravitz as director in the firm’s project finance and infrastructure team. Dawn will be based in London and report to Rishin Patel who is responsible for JCRA’s project finance, infrastructure and PPP business across EMEA, Asia and Australasia. Dawn joins JCRA from MUFG Securities, where she spent 11 years working in the firm’s derivatives solution team, of which she was an initial member.

STS guidelines published

The EBA has published its final guidelines regarding a harmonised interpretation of the criteria for securitisations to be STS-eligible on a cross-sectoral basis throughout the EU. The guidelines – developed for both ABS and ABCP – will provide a single point of consistent interpretation of the STS criteria for all entities involved in STS securitisation, including originators, sponsors, investors, competent authorities and third-party STS verifiers. They will apply from 15 May 2019, although in order to support a consistent interpretation of the STS framework across the EU, it is expected that competent authorities will generally apply them from the application date of the EU securitisation framework on 1 January 2019.