Banking

KBRA Releases Research – Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: October 2020

Monday, November 23, 2020 - 4:44pm

Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to sectors that have experienced negative credit migration as a result of the ongoing coronavirus (COVID-19) pandemic.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) releases a report which details U.S. broadly syndicated loan (BSL) collateralized loan obligation (CLO) exposure to sectors that have experienced negative credit migration as a result of the ongoing coronavirus (COVID-19) pandemic.
  • As the calendar approaches 2021, KBRA is constructive on the prospect of an overall economic rebound, which should bode well for corporate credit activity.
  • We also include the Structured Credit Publication Index, which contains links to recent KBRA reports within the Structured Credit sector.
  • Coronavirus (COVID-19): U.S. BSL CLO Sector Exposure Map: September 2020
    KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.

Working group on euro risk-free rates launches two public consultations on fallbacks to EURIBOR

Monday, November 23, 2020 - 4:05pm

PRESS RELEASE

Key Points: 
  • PRESS RELEASE

    Working group on euro risk-free rates launches two public consultations on fallbacks to EURIBOR

    23 November 2020

    The working group on euro risk-free rates has today released two public consultations on the topic of fallback rates to EURIBOR.

  • Fallback rates are rates that can be relied upon in case of an unavailability of the main rate.
  • In the other consultation, stakeholders are invited to give their views on potential events that could trigger such fallback measures.
  • As regards STR-based fallback rates, the working group considered two types of rates:

    1) Forward-looking rates which are based on the derivatives markets referencing the STR and which reflect market expectations of the evolution of the STR.

Czech Republic: Investment Plan for Europe - EIB supports the Czech-Moravian Guarantee and Development Bank in establishing an advisory unit

Monday, November 23, 2020 - 4:05pm

Today, the European Investment Bank (EIB) and the Czech-Moravian Guarantee and Development Bank (CMZRB) signed an agreement funded by the European Investment Advisory Hub as part of the EIBs Call for Proposals Delivery of local investment advisory services by National Promotional Banks (NPBs).

Key Points: 
  • Today, the European Investment Bank (EIB) and the Czech-Moravian Guarantee and Development Bank (CMZRB) signed an agreement funded by the European Investment Advisory Hub as part of the EIBs Call for Proposals Delivery of local investment advisory services by National Promotional Banks (NPBs).
  • Once in place, the unit will identify a pipeline of projects that need advisory support and will help promoters in the Czech Republic to prepare, finance and implement such projects.
  • The support of the dedicated advisory unit will be made available to large-scale projects as well as to projects for small businesses and mid-caps.
  • Under this programme, CMZRB will focus on various business development and awareness-raising activities aimed at informing project promoters about the services of the new unit.
  • Background information About theEuropean Investment Advisory Hub (EIAH) The European Investment Advisory Hub (EIAH) is a partnership between theEuropean Investment Bank Groupand theEuropean Commissionunder theInvestment Plan for Europe.
  • Building our local partnerships across Europe has been a priority of the Advisory Hub since its launch in 2015.
  • About the European Investment Bank The EIB has worked with the Czech Republic since 1992 and invested in infrastructure, small businesses, environment and innovation.
  • Since the start of operations in the Czech Republic, the EIB has provided 22.51billion of financing to 185 projects.

Patrinely Group Enters Partnership With Paxion Capital

Monday, November 23, 2020 - 3:30pm

Patrinely Group, LLC (Patrinely Group), a premier national real estate development, management and investment firm, today announced that it has completed a strategic transaction in partnership with Paxion Capital, LP (Paxion), a multi-generational private partnership based in Menlo Park, California.

Key Points: 
  • Patrinely Group, LLC (Patrinely Group), a premier national real estate development, management and investment firm, today announced that it has completed a strategic transaction in partnership with Paxion Capital, LP (Paxion), a multi-generational private partnership based in Menlo Park, California.
  • Under the terms of the transaction, Paxion will acquire a significant stake in Patrinely Group.
  • This strategic partnership is a once in a lifetime opportunity for Patrinely Group to take a quantum leap forward very exciting, indeed.
  • Paxion Capital, LP is a multi-generational private partnership founded in 2015 and headquartered in Menlo Park, California.

Medallion Financial Corp. to Participate in the Jefferies Virtual Crossover Consumer Finance Summit

Monday, November 23, 2020 - 3:00pm

Medallion Financial Corp. (Nasdaq: MFIN, Medallion Financial or the Company) announced today that it will be participating in the Jefferies Virtual Crossover Consumer Finance Summit on Thursday, December 10, 2020.

Key Points: 
  • Medallion Financial Corp. (Nasdaq: MFIN, Medallion Financial or the Company) announced today that it will be participating in the Jefferies Virtual Crossover Consumer Finance Summit on Thursday, December 10, 2020.
  • For those interested in having a meeting with Medallion Financial, please contact your Jefferies representative.
  • Medallion Financial Corp. is a finance company that originates and services loans in various industries, and its wholly-owned subsidiary, Medallion Bank, also originates and services consumer loans.
  • Jefferies Financial Group Inc. is a diversified financial services company engaged in investment banking and capital markets, asset management and direct investing.

Veteran Portfolio Manager Gordon D. Grender Joins Gabelli Asset Management Company (GAMCO)

Monday, November 23, 2020 - 2:37pm

GAMCO Investors, Inc. (NYSE:GBL) announced today that veteran portfolio manager Gordon D. Grender, will join Gabelli Asset Management UK as Managing Director where he will be responsible for portfolio management.

Key Points: 
  • GAMCO Investors, Inc. (NYSE:GBL) announced today that veteran portfolio manager Gordon D. Grender, will join Gabelli Asset Management UK as Managing Director where he will be responsible for portfolio management.
  • Mr. Grenders initial portfolio assignments include being added to the Gabelli Small Cap Growth fund, a $1.8 billion portfolio launched in October 1991.
  • Most recently, Gordon was the portfolio manager for a US Equity Fund at GAM International Management Ltd. (GAM), a Swiss based global asset management firm.
  • At GAM, Gordon was the firms longest serving portfolio manager, having been hand selected by GAMs founder Mr. Gilbert deBotton at GAMs founding in 1983.

Veteran Portfolio Manager Gordon D. Grender Joins Gabelli Asset Management Company (GAMCO)

Monday, November 23, 2020 - 2:20pm

GAMCO Investors, Inc. (NYSE:GBL) announced today that veteran portfolio manager Gordon D. Grender, will join Gabelli Asset Management UK as Managing Director where he will be responsible for portfolio management.

Key Points: 
  • GAMCO Investors, Inc. (NYSE:GBL) announced today that veteran portfolio manager Gordon D. Grender, will join Gabelli Asset Management UK as Managing Director where he will be responsible for portfolio management.
  • Mr. Grenders initial portfolio assignments includes being added to the Gabelli Small Cap Growth fund, a $1.8 billion portfolio launched in October 1991.
  • Most recently, Gordon was the portfolio manager for a US Equity Fund at GAM International Management Ltd. (GAM), a Swiss based global asset management firm.
  • At GAM, Gordon was the firms longest serving portfolio manager, having been hand selected by GAMs founder Mr. Gilbert deBotton at GAMs founding in 1983.

Wells Fargo Launches ‘Many hearts. One community.’ Holiday Campaign

Monday, November 23, 2020 - 2:00pm

(Photo: Wells Fargo)

Key Points: 
  • (Photo: Wells Fargo)
    For many, this will be a challenging holiday season, and at Wells Fargo, were working to make the holidays a bit brighter, said Wells Fargo CEO Charlie Scharf.
  • holiday campaign can be found on the companys social media channels and Wells Fargo Stories .
  • * From 11/23/20 to 12/27/20 for every Wells Fargo card retweeted or shared on Twitter In-Feed, Instagram In-Feed, and/or Facebook In-Feed that includes the #WFGivesThanks hashtag, Wells Fargo will donate $5 to American Red Cross.
  • News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories .

HSBC Bank Launches Single Global Account and Real-Time Payments Platform: HSBC Global Money Account

Monday, November 23, 2020 - 2:00pm

HSBC Bank USA , N.A., (HSBC), part of the HSBC Group, today announced the launch of its newest real-time payments offering.

Key Points: 
  • HSBC Bank USA , N.A., (HSBC), part of the HSBC Group, today announced the launch of its newest real-time payments offering.
  • HSBCs Global Money Account allows its international customer base to hold, manage and send money across various currencies to 14 million HSBC customers in 20 countries worldwide through a single account 24/7.
  • The Global Money Account provides customers with the ability to hold eight different HSBC currencies online, with instant conversion to other currencies.
  • is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A.

Dwight Capital Hires Ryan Miles as Chief LEAN/Healthcare Underwriter

Monday, November 23, 2020 - 2:00pm

Dwight Capital , one of the nations largest and most prominent private commercial real estate lenders, has hired Ryan Miles as its Managing Director Chief LEAN/Healthcare Underwriter.

Key Points: 
  • Dwight Capital , one of the nations largest and most prominent private commercial real estate lenders, has hired Ryan Miles as its Managing Director Chief LEAN/Healthcare Underwriter.
  • Prior to joining Dwight Capital, Ryan was a Managing Director and Chief Credit Officer for Seniors Housing and Healthcare at Lancaster Pollard, a financial services firm based in Columbus, Ohio, which is now part of the broader lending platform, Lument.
  • Ryan has over a decade of experience in the commercial real estate finance industry, including credit analysis, underwriting and valuation.
  • Ryan will be responsible for providing leadership and direction to the Dwight healthcare team throughout the underwriting process.