ABN AMRO is restructuring its securitization department. The Dutch bank's U.S. conduit, term and CLO businesses will be combined into one Asset Repackaging division, which will become part of the bank's global securitization effort.

"I think it's a smart move to have a global head of asset securitizations that will also be in charge of the U.S. operations," said a source familiar with the restructuring. "I never understood why they had separate areas."

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