Jennifer Williams recently joined the structured financed group at Ambac, where she will serve as a vice president, reporting to Ambac Director Scott Gordon. Williams came over from Fitch IBCA, where she was a director in the managed funds group.
Credit Suisse First Boston has hired more than 10 asset-backed professionals for its European Asset Finance business from French rival BNP Paribas. Among those hired were Maarten Stegwee and Adrian Carr - the duo that led the securitization operation for BNP's London-based office.
Fitch IBCA recently announced that Mary Osako, a director in New York's International Structured Finance Group has transferred to its Tokyo office to help cover the Japanese securitization market. Osako will co-head the Structured Finance office in Japan and be responsible for asset-backed and servicer ratings.
HSCB Bank PLC, a unit of HSBC Holdings PLC, plans to launch its first ever collaterialized loan obligation in April, with the expected amount being as high as $850 million. The CLO, which will be backed cashflows from a portfolio of HSBC Bank PLC's corporate loans, will incorporate a U.S.-style master trust structure for the first time in a U.K. corporate loan securitization.
Fitch IBCA has upgraded several notes of GE Capital Mortgage Services Inc. REMIC mortgage pass-through certificates. The ratings action was taken as a result of low delinquencies and losses and as well as increased credit support.