Market Moves

  • EBRD appoints Greece, Cyprus lead

    Company hires and sector developments

    EBRD hires NPL vet

    The EBRD has appointed Andreea Moraru to lead its operations in Greece and Cyprus from November, following the retirement of the current holder of the role, Sabina Dziurman. Based in Athens, Moraru will continue the EBRD’s efforts to support the private sector in the two countries, improve competitiveness and strengthen the regional integration of the local .......

    Market Moves 4 July 2019

  • CLO firm boosts research team

    Company hires and sector developments

    CEDE made public

    AIR Worldwide has published its Catastrophe Exposure Data Exchange (CEDE) database schema publicly. The aim is to facilitate accurate and transparent data exchange throughout the insurance value chain more efficiently, and to encourage additional analytics on a greater number of exposures. In addition, AIR is actively supporting the ModEx Open Exposure Data Format (OED) by freely providing .......

    Market Moves 2 July 2019

  • ReoCo impact assessed

    Company hires and sector developments

    CMIP acquisition

    Investcorp Credit Management US has entered into a definitive interest purchase agreement to acquire a majority ownership interest in CM Investment Partners (CMIP), the investment adviser to CM Finance, through its purchase of the respective equity positions held by certain funds managed by Cyrus Capital Partners and Stifel Venture Corp, and newly issued interests in CMIP. .......

    Market Moves 28 June 2019

  • GSE reform study released

    Sector developments and company hires

    Private credit double announced

    Solar Capital Partners has hired two senior private credit investment professionals. Eric Herr joins as a partner, to help lead investment origination across the firm's multi-credit strategy platform. Most recently, he served as an md of loan originations at NewStar Financial and previously worked at Churchill Financial, GE Antares and GE Commercial Finance. Eduard .......

    Market Moves 27 June 2019

  • CMBS auditing upset

    Sector developments and company hires

    Auditing issue

    The JUNO (ECLIPSE 2007-2) CMBS failed to file its financial statements for 2017, together with its annual return by 21 June, as required by the Companies Registration Office (see SCI’s CMBS loan events database). The issuer has a further 28 days to submit its audited financial statements, but its auditors have advised that they cannot .......

    Market Moves 26 June 2019

  • Aussie Investment principles discussed

    Sector developments and company hires

    Australian business investment principles explored

    The Australian Office of Financial Management (AOFM) has released for public comment its draft guiding investment principles for Australian Business Securitisation Fund (ABSF) investment.  The guiding investment principles are intended to be “principles based” rather than prescriptive and will be used by the AOFM for identifying transactions that will meet the government’s primary .......

    Market Moves 24 June 2019

  • Chinese law firm nabs SF expert

    Sector developments and company hires

    China

    Han Kun has hired Li Huhuan as partner to the firm’s Shanghai office. Huhuan focuses his practice on asset securitization, insurance fund management, and mergers and acquisitions.  Prior to joining Han Kun, Huhuan practiced with several well-known PRC law firms for more than eleven years. 

    Industry body rebrand

    The Structured Finance Industry Group (SFIG) has .......

    Market Moves 21 June 2019

  • Global reinsurance consolidation

    Sector developments and company hires

    HATS 2016-1 redeemed

    KBRA has withdrawn its ratings from Honor Automobile Trust Securitization 2016-1, after the notes were paid in full on 17 June. Given the remaining pool factor was less than 20% of the cut-off date pool balance, the servicer exercised its option to purchase the trust property and redeem the notes. Westlake took over servicing of .......

    Market Moves 20 June 2019

  • Securitised products head retires

    Sector developments and company hires

    Bank SPG head retires

    Lloyds Bank is making several changes to leadership positions in its North America business, to boost services provided to clients in the region focused on Lloyds Bank’s US-UK gateway. Parker Russell, head of the US securitised products group (SPG), has decided to retire after eleven years with the group and a finance career spanning over thirty .......

    Market Moves 19 June 2019

  • Ratings slip-up leads to downgrade

    Company hires and sector developments

    Acquisitions

    PERILS has acquired Toronto-based Catastrophe Indices & Quantification (CatIQ), a provider of catastrophe loss and exposure information in Canada. CatIQ will continue to be managed day-to-day by Joel Baker, ceo and founder, while md Laura Twidle will continue to lead the CatIQ team. The firm will also maintain its 11-member advisory board, which includes senior representatives from .......

    Market Moves 18 June 2019

  • Risk firm in international ILS hiring spree

    Sector developments and company hires

    BD appointed

    IHS Markit has appointed Sandrine Markham director, business development for Debtdomain in EMEA and APAC, reporting to Patricia Tessier, md and co-head of loan platforms at the firm. With more than 20 years’ experience in financial data and financial technology, Markham played a transformational role at Debtdomain from start-up to becoming a leading loan syndication platform in EMEA. .......

    Market Moves 17 June 2019

  • Law firm expands SF expertise

    Company hires and sector developments

    Clean energy firm names cfo

    Renew Financial has named Mary Kathryn Lynch cfo, having previously served as the firm’s evp of finance and leading its capital markets team in executing three rated securitisations in 2017 and 2018. She has 10 years of experience in the clean energy industry, working with Sunrun and VoteSolar. Prior to that, she worked at UBS, .......

    Market Moves 14 June 2019

  • CLO firm boosts originations expertise

    Company hires and sector developments

    CLO firm boosts originations team

    Monroe Capital has expanded its direct originations team with the addition of seven experienced investment professionals: David Fischer and Nick McDearis in the firm’s Atlanta office; Dan Letizia and Tommy Ryan in its Chicago office; and Jack Bernstein in the New York office. In particular, Fischer and McDearis have been named mds and will co-lead .......

    Market Moves 12 June 2019

  • Advisor boosts SF expertise

    Sector developments and company hires

    Acquisitions

    Greensill has acquired receivables securitisation specialist Finacity which will now become a wholly-owned part of Greensill. The move comes shortly after Softbank invested US$800m in Greensill. Finacity’s ceo, Adrian Katz, will continue in his role under Greensill’s ownership.

    Advisor, broker boosts structured finance expertise

    finnCap Group has expanded its debt advisory team with two senior new hires. The enlarged team .......

    Market Moves 11 June 2019

  • Europe sees 1Q issuance dip

    Sector developments and company hires

    ABS vet nabbed

    Angelo, Gordon & Co has hired Sunil Kothari as md, responsible for originating and executing on residential and consumer debt investment opportunities across Europe. Kothari reports to TJ Durkin, co-head of structured credit at Angelo Gordon. Kothari most recently served as evp, pm at PIMCO Europe, where he was head of the European ABS and covered bond desks .......

    Market Moves 10 June 2019

  • Livestock first inked

    Sector developments and company hires

    Australian livestock deal debuts

    StockCo has launched the first securitisation warehouse transaction in Australia consisting of financing receivables primarily secured by livestock. The transaction has been completed with Goldman Sachs and the facility will be available for three years and will be able initially to accommodate up to US$150m of livestock receivables subject to pre-agreed eligibility criteria, and .......

    Market Moves 7 June 2019

  • New P2P platform rules announced

    Sector developments and company hires

    ABS facility expands

    Amigo Holdings has increased its securitisation facility to £300m. It has a three-year term and is set to close on Thursday. The company intends to use drawdowns from the facility for general corporate purposes and the potential repayment of indebtedness. The facility, which has a minimum three-year term and amortises thereafter, will have a funding .......

    Market Moves 5 June 2019

  • Agri-linked note prepped

    Company hires and sector developments

    Agri-linked note prepped

    The African Development Bank has approved a €100m partial credit guarantee (PCG) to African Agriculture Impact Investments (Mauritius) to develop commercial agriculture in Africa. The company will leverage the PCG to catalyse additional financing from international pension funds through an agri-linked note to facilitate investments in sustainable farmland and agricultural infrastructure across Africa. It will .......

    Market Moves 4 June 2019

  • Bank bulks up commodities expertise

    Company hires and sector developments

    Bank bulks out commodities unit

    Credit Agricole has hired Aude Sauty de Chalon as director, structured commodity finance, EMEA. She was previously deputy head of commodity and structured finance at ICBC, London. The firm has also hired Badia Taleb-Nehlil as ed, structured commodity finance at the same bank and both hires are based in London.

    Verification agent expands

    Market Moves 3 June 2019

  • Bank nabs CLO expert

    Company hires and sector developments

    Mizuho has hired Stefan Stefanov as director, Euro CLO specialist and he will report in to Juan-Carlos Martorell and Andrew Feachem in the securitised products and structured finance team. Stefanov will join in July from Commerzbank where he was director in the treasury investment office. In this newly created role, he will be performing a structuring, origination and syndication .......

    Market Moves 31 May 2019

  • Indian RMBS market in the works?

    Sector developments and company hires

    Alt sales head hired

    Schroders has hired Peter Arnold to lead its alternative sales unit, which was established last year and focuses on the distribution of the firm’s private assets investment offering, which includes ILS and securitised credit. He reports to Schroders global head of distribution John Troiano and global head of private assets Georg Wunderlin. Arnold was .......

    Market Moves 30 May 2019

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