Sector developments and company hires

Dock Street Capital Management has replaced Dynamic Credit Partners (as successor to Petra Capital Management, the original manager of the deal) as collateral manager for the Brookville CDO I transaction. Moody’s has confirmed that the move will not result in any adverse rating actions with respect to the notes issued by the transaction.

In other news…

EMEA

DLA Piper expands its financial regulation team with the hire of new partner, Karen Butler. She joins the firm from Reed Smith’s financial regulatory practice where she also served as partner and has advised on both UK and EU financial legislation and compliance across a broad range of financial services institutions. Butler is noted for her experience in the regulatory support of capital markets, derivatives, securitisation transactions, and funds regulation, which the firm hopes will make her an excellent addition to the team in the firm’s London office.

Securitisation lawyer Conor Downey has become a partner in ILS (London). He was previously real estate finance partner in the London offices of gunnercooke.

North America

IDX Markets has announced the launch of its new electronic trading platform for securitised products, which will be able to trade CLOs from launch. The IDX Platform is the first of its kind for fully integrated trading and market intelligence for the securitisation market and was developed in consideration of feedback received from dealers and buyside professionals. IDX hopes the new platform will be able to set a new standard for CLO trading by enhancing market liquidity, efficiency, and transparency, that fits in with the existing trading environment.

KBRA has announced a new appointment to its senior management staff on its ABS team. Eric Neglia has been named as head of commercial and consumer ABS following the departure of senior md and former head of commercial ABS, Cecil Smart. Neglia has been with KBRA since 2015, and in his new role will continue to report to senior md and leader of KBRA’s global ABS effort, Rosemary Kelley.