Sector developments and company hires

EBA makes STS digital move

The EBA has announced that it has added the STS Regulation to its online Interactive Single Rulebook and Q&A. It allows market participants to access the EBA’s guidelines, and it will also enable them to ask questions on any aspect of the criteria where it is felt require clarification under the EBA’s continuing power to issue guidelines.

PCS comments that this will be a vital tool, going forward, as many issues of a highly technical nature arise in its verification work and so welcomes the latest step from the EBA.

Performing credit team makes senior hire

Angelo, Gordon has hired Michiel von Saher as an md based in London, expanding the firm’s performing credit team to 13 dedicated investment professionals, including four in the UK. He is responsible for leading European performing credit research and identifying credit investment opportunities across the region. He comes to Angelo, Gordon with 24 years of experience as a credit analyst in Europe, most recently as an md and head of the European credit research team at PGIM fixed income, where he was also co-chair of the PGIM fixed income ESG committee.

RBI recommendations

The Reserve Bank of India’s task force on the development of a secondary market for corporate loans (SCI 30 May) has since submitted its report to the governor of the central bank. Among the key recommendations of the task force are: the establishment of a self-regulatory body of participants to finalise detailed modalities for the secondary market, including standardisation of documentation, and a central loan contract registry; the establishment of an online loan sales platform to conduct auctions; amending regulations applicable to the securitisation and assignment of loans, asset reconstruction, foreign portfolio investment and external commercial borrowings; and enabling the participation of non-banking entities. Comments on the report may be submitted by 30 September.

Structured credit vets nabbed

GreensLedge has hired Matthew Natcharian and Derek Yaworsky to lead structured credit investing at the firm.  Natcharian was previously head of the structured credit investment team at Barings, while Yaworsky was an md at Barings within structured credit trading.