Hints and tips:
...Then came a private credit fund....
...But, of course, there’s a reason why it’s widely called Shitibank; the sprawling, gormless Citi has for a v v v very long time proven adept at blithely ambling onto various rakes around the world....
...Elliott Investment Management has reached a co-operation agreement with sensor maker Sensata Technologies. Sensata will appoint Phillip Eyler to its board of directors....
...News round-up Chinese shadow bank Zhongzhi faces $36bn shortfall after ‘management ran wild’ (FT) British tech tycoon Lawrence Jones guilty of rape and sexual assault (FT) Hipgnosis seeks new auditor...
...Flynn will retain another role as co-head of private wealth management, and succeeds Kim Posnett....
...If a candidate fails to win 50 per cent of first preference votes, the top 10 names go forward to a second round. There can be up to three rounds of voting....
...The 133-year-old Swiss bank had interviewed Credit Suisse’s then hotshot head of wealth management, Iqbal Khan, for the role, but ended up settling on the relatively unknown insider Rickenbacher....
...Moelis has hired Robert Mendelson as a managing director focused on credit investment institutions and platforms. He joins from Venor Capital Management....
...Smart reads Flawed valuations Fund managers in the private credit industry are often valuing their loans more generously than others do. Regulators are starting to worry, Bloomberg reports....
...The sovereign wealth fund is leading a round that sees Moove raise $76mn in equity and debt from an investor group that includes asset management giant BlackRock....
...Fergus Wheeler and Paul Yin, both private credit specialists, who are joining from US rival Akin Gump Strauss Hauer & Feld....
...Private credit co-heads James Reynolds and Kevin Sterling have also been named global head of direct lending and global head of investment-grade private credit and asset finance, respectively....
...The FT profiles the Nigerian born dealmaker, who before becoming a top executive at Credit Suisse, clerked for Thurgood Marshall....
...credit....
...company’s patented in-house “market-based management” philosophy....
...Simone Verri will be head of Emea structured credit products, while Jeroen Rombouts will lead Emea investment grade capital markets and risk management, and Jonathan Fine will head global investment grade...
...News round-up Odey Asset Management in talks with SW Mitchell over Oliver Kelton’s funds (FT) Sam Bankman-Fried fails to dismiss criminal charges related to FTX (FT) US electric vehicle start-up Lordstown...
...They aren’t risky; there was only $139mn of credit loss allowances against employee loans as of the last 10-K....
...BP has named Kate Thomson as interim chief financial officer, following last week’s management upheaval prompted by the sudden resignation of CEO Bernard Looney....
...News round-up Short seller warned US regulator about Signature Bank in January (FT) First Republic rallies as Yellen says US prepared to give more support (FT + Lex) Asia investors ‘gobsmacked’ by $17bn...
...Citigroup’s profits fell more than a third last quarter, hit by slower corporate spending, a dearth of deals and a costly round of lay-offs....
...At the end of last year, just over half of the Wharf’s tenants were financial institutions, including JPMorgan Chase, Morgan Stanley and Credit Suisse....
...Odey has now been ousted and Odey Asset Management is being dismantled. We did not expect it to survive intact....
...It limits credit risk and is available on the exchange.”...
...News round-up Apollo co-founder Leon Black wins dismissal of sexual assault lawsuit (FT) UBS gains EU antitrust approval to acquire Credit Suisse (Reuters) PwC staff implicated in Australian tax leak...
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