CDOs

Dallas-based Highland Capital Management, which along with its affiliates has roughly $23 billion in assets under management, hired Brian Rice as managing director.

Societe Generale named Degenhard Schroeren as the head of leveraged finance for Germany, Austria and Central and Eastern Europe, according to reports.

More professionals, including securitization staff, are continuing to leave Morgan Stanley, published reports have indicated.

Albert Sohn, previously head of securitized products at Credit Suisse, will move into alternative investments in asset management at the bank. In his new position, Sohn will manage structured credit and residential real estate assets, according to an internal memo obtained by ASR.

As any entrepreneur, boss or parent can attest, the key to avoiding disappointment is managing expectations. Got a B student at home? Expect a C, and when he walks in the door with an A, voila! Happy days!

The American Securitization Forum (ASF) announced today that John Walsh, acting comptroller of the currency, will give a keynote speech at ASF 2012.

European buyout firm CVC Capital Partners has agreed to buy Resource America’s CLO unit in a move to expand in the U.S., the two companies said in separate statements today.

Knight Capital Group has appointed a director of institutional credit sales responsible for selling bank loans and high yield bonds to large European investors.

The fight over a capital surcharge for the largest banks took center stage in 2011, at least in the international Basel III process, as the chief executives of some major banks publicly clashed with regulators over the issue.

The Loan Syndications and Trading Association (LSTA) on Dec 29 released the results for its 2012 Loan Market Survey (for a full copy of the slide presentation, please click the link below).

The leveraged loan market experienced a lackluster year in 2011, with returns down and bids float in both the U.S. and Europe, according to Markit.

Federal regulators are seeking comment on a proposal that aims to lessen banks' reliance on credit ratings by proposing three methods for assessing risk on firms' trading books.

Investors behind three CDOs – Cedarwoods CRE CDO III, Concord Real Estate CDO 2006-1 and Resource Real Estate Funding CDO 2006-1 – filed a lawsuit this week to block a junior lender from exercising the fair value purchase option on the $150 million defaulted loan secured by JW Marriott Las Vegas Resort & Spa securitized in CSMC 2007-TFLA, according to a New York court filing.

Mickael Le Gargasson, Societe Generale’s director of acquisition and leveraged finance for the Asia Pacific region has left the firm, according to reports.

The American Securitization Forum (ASF) will have California Congressman Ed Royce and Arizona Congressman David Schweikert as keynote speakers at its ASF 2012.

UBS has hired Mike Weir, a veteran of Citadel Securities, as a loan trader.

Financial analysts are unfazed by Moody's Investors Service's downgrade of MBIA and National Public Finance Guarantee Corp. (NPFG).

JPMorgan named a new head of its leveraged finance group in North America, the bank confirmed.

Apollo Global Management said today it agreed to acquire Stone Tower Capital, an investment firm that manages 12 CLOs, for an undisclosed sum.

KeyBanc Capital Markets has hired Steve Rielly from UBS to oversee loan trading, ASR sister publication Leveraged Finance News has confirmed.