The new company aims to facilitate business with institutional investors throughout Asia and to leverage Amhersts knowledge of fixed-income securities, particularly in RMBS.
Paul Kan will lead AIL as managing director. Kan joined Amherst from Lehman Brothers Hong Kong office, where he worked as a senior vice president and senior MBS and securitized products trader for Asia and was responsible for trading and coordinating the execution of MBS trades with Lehmans New York trading desks.
Before Lehman, Kan was a member of the mortgage trading group at Donaldson, Lufkin & Jenrette, where he structured and traded agency and non-agency CMOs in New York.
The release said the initial focus of AIL will be facilitating securities transactions in the U.S. between Asian accounts and Amherst Securities Group, Amhersts broker-dealer affiliate.
Amherst said it hopes to deepen relationships with global investors through the new subsidiary, as well as provide better access to investment approach and analytics.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
April 19 -
With a high proportion of fixed-rate, interest-only underlying loans, the notes have almost no amortization, and three CRE loans have standalone, investment-grade opinions.
April 19 -
The fixed-rate loans are divided into three sub-pools that relied on rating methods from the RMBS, CMBS and ABS sectors to assess their risks.
April 18 -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
April 18 -
The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.
April 18 -
Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.
April 17