Finance

Markit has hired Adam Kansler as a member of its executive team. The new hire will play multiple roles as an executive vice president, global head of corporate, government and legal affairs, and the company’s general counsel.

Cairn Capital appointed Folkert Jan van der Veer as senior credit analyst. As part of Cairn’s credit research team, Jan van der Veer will focus on financial institutions and report to Renée Toft.

Fitch Ratings calculated that the Structured Investment Vehicle (SIV) market has disposed of 95% of the $400 billion of its assets since July 2007, a release from the rating agency said.

Freddie Mac and Ginnie Mae released their June prepayments yesterday evening, while Fannie Mae is scheduled to report tonight.

Moody’s Investors Services downgraded the subordinate class C and D notes from Capital One Multi-asset Execution Trust (COMET) to ‘Ba1’ from ‘Baa2’ and to ‘B1’ from ‘Ba2’, respectively, citing an increase in the trust charge-off rate and a decrease in the principal payment rate over the past year.

Appleby opened a representative office in the Kingdom of Bahrain, the offshore law firm announced in a press release today.

Securitization markets have typically fallen quiet during the summer months. However, in a not-so-typical environment, this has been proven wrong.

Sallie Mae is in the market with a Term ABS Loan Facility (TALF)-eligible $1.1 billion private student loan deal.

Clients plan to serve Belgian bank KBC with papers stating it didn’t properly warn consumers of risks involved with CDOs, according to published reports.

Advanta Bank Corp. entered into two regulatory agreements with the Federal Deposit Insurance Corp. (FDIC) effective on June 30.

Standard & Poor's credit analysts expect higher levels of defaults this year as performance of prime jumbo loans continues to deteriorate.

The 12 Federal Home Loan Banks reported combined earnings of $345 million in the first quarter, down 50% from a year ago, as six banks took a net loss for the quarter primarily due to impairment charges on private-label mortgage-backed securities.

Cadwalader, Wickersham & Taft moved its Washington, D.C. offices to a new location. This unites all of the firm’s personnel in one location on four floors, a release from the firm said.

Dewey & LeBoeuf has hired Marshall Stoddard, the former co-chair of Mayer Brown’s global banking and finance practice, as the head of its U.S. bank and institutional finance group.

Bingham McCutchen and McKee Nelson have signed a letter of intent to combine on or before Aug. 1, today’s Bingham release said.

Amherst Holdings has a new Hong Kong subsidiary called Amherst International Ltd. (AIL) — marking the company’s first international venture — according to an Amherst press release.

Manager Activity: Autos Book Runner Amount (US$ Mil) Rank Mkt.

A Federal Deposit Insurance Corp. plan to place new restrictions on private-equity firms seeking to buy failed banks is facing strong opposition from fellow bank regulators and could temporarily freeze all private-equity activity in bank acquisitions.

The Organization for Economic Cooperation and Development (OECD) continues to work on its list of acceptable tax havens.

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