Sector developments and company hires

GSE capital rule eyed

The FHFA plans to re-propose the entire regulation on capital requirements for Fannie Mae and Freddie Mac sometime next year, stating that the 2018 capital rule was proposed before it began the process of retaining capital at the GSEs as a first step towards ending their conservatorships. The agency says that the new rule will be finalised “within a timeline fully consistent with ending the conservatorships” and will require the enterprises to build capital that can properly support their risk. Separately, the FHFA has extended from 19 December 2019 to 21 January 2020 the deadline for interested parties to provide input on potential changes to Fannie Mae and Freddie Mac UMBS pooling practices (SCI 5 November).

Legal firm beefs up SF expertise

Maples Group has announced the appointment of a number of strategic hires to its team in the Cayman Islands.  Luana Guilfoyle, Nicolas Rogivue, Sonja Salmon, Nadish Seebaluck, and Linval Stewart have joined as vice presidents within the Maples Group’s fiduciary services team to provide specialist services to a broad range of structured finance transactions and special purpose vehicles. Guilfoyle has over 14 years of experience in the Cayman Islands’ financial services industry, having served on the boards of various Cayman domiciled hedge funds, investment management companies, special purpose vehicles and private equity structures.  She focuses on a wide range of structured finance products, in particular, CLOs/CDOs, structured note issues and programmes. Previously, she was a principal in the investment services department of a specialised trust and corporate services provider and held the role of group manager at a global fund administrator managing several strategic relationships for its clients. Rogivue brings a depth of experience in the provision of directorship and trustee services, as well as experience as a debt capital markets lawyer in the UK. He has supported a range of structured finance transactions, including a significant number of cashflow and synthetic CLO/CDOs, securitisations and note programmes in both the US and European markets. Previously he worked at a global investment bank and financial services company focused on global transaction banking, trust and agency services.