Credit suisse securitized products news But after UBS acquired Credit Suisse in March 2023 Feb 10, 2023 · Paul, Weiss is advising Apollo on the financing for its acquisition of a significant portion of the assets of Credit Suisse’s Securitized Products Group, as well as the related launch of standalone securitized credit origination platform ATLAS SP Partners. buyout fund Apollo Global Management Mar 27, 2024 · UBS Group AG agreed to sell $8 billion in unwanted assets to Apollo Global Management Inc. In July, the bank said it would sell Mar 27, 2024 · Paul, Weiss is advising Apollo Global Management and ATLAS SP Partners, L. 2. 1 The execution of these agreements represents an important step towards a managed exit from the Oct 27, 2022 · Credit Suisse's securitized products group is being purchased by Apollo Global Management. Feb 14, 2023 · By Shankar Ramakrishnan. May 19, 2022 · In the latest of a series of exits from Credit Suisse's credit trading team, Joe Steffa, the global head of securitized products trading is leaving the bank in New York. Apollo, through its affiliates, is the majority shareholder of ATLAS SP Partners and serves as a long-term capital partner to the Company, alongside additional third-party capital Nov 15, 2022 · Credit Suisse AG declined the most among major European banks after analysts pointed to the lack of financial details surrounding the agreed sale of a large part of its securitized products Mar 27, 2024 · Under the 2022 deal, roughly $20 billion of securitized products assets would stay on Credit Suisse’s books, but Apollo would manage them. Israel's whole career had been at Credit Suisse: he joined in 2014 after graduating from The Johns Hopkins University. Oct 27, 2022 · It has been known for some time Credit Suisse wanted to divest its securitized products business housed in the securitized products group, (SPG) to reduce the risk-weighted assets and leverage of the crisis-ridden bank. Oct 27, 2022 · Thursday’s restructuring announcement was the latest effort by Credit Suisse — a linchpin of the Swiss banking industry for 166 years — to turn around its fortunes. 31%decrease; red down pointing triangle and Pacific Investment Management Co. Are cuts coming in the SPG? In mid-November, Jay Kim, Credit Suisse's global head of securitized products trading, sent an email to staff in the group explaining that the situation remains uncertain. This might be good for its top performers. Mar 27, 2024 · UBS said on Wednesday it had concluded an agreement with Apollo Global Management to finalize the carve-out of Atlas SP, a former securitized products business of Credit Suisse. Oct 24, 2022 · Credit Suisse (CS) is close to selling its securitized products group, the Wall Street Journal reported Monday, without giving details on the deal. com -- Credit Suisse Group AG (SIX:CSGN) announced on Tuesday that it has agreed to sell a "significant" portion of its securitized products business and other related financing divisions Dec 15, 2022 · As Credit Suisse prepares to sell its securitized product group (SPG) to Apollo Global Management, key people are being invited to move across. to sell the bulk of its securitized products group business. Jan 15, 2025 · The asset class is evolving and expanding rapidly with new opportunities in securitized, mortgage-backed, working capital, private, real estate and infrastructure debt. APO-0. The SPG is being sold to Apollo Global Management and we understand that its most desirable members are already receiving offers to join the new Apollo venture, which will seemingly be called Atlas. Dryden will be based in New York. Oct 7, 2022 · Pimco, Sixth Street and an investor group including Centerbridge Partners are among a shortlist of bidders for at least part of Credit Suisse Group AG’s securitized products business as the Feb 8, 2023 · ATLAS SP Partners has launched as a standalone securitized credit origination platform to enhance growth in the asset-backed finance market. Mar 27, 2024 · The Swiss bank said Wednesday that it and New York-based asset manager Apollo agreed to end deals for the management of Atlas SP, the former securitized products business of Credit Suisse that Please consult the sales restrictions relating to the products or services in question for further information. Mar 27, 2024 · The differences reflect adjustments UBS Group made under IFRS as part of the purchase price allocation at the closing of the acquisition of Credit Suisse Group, as well as provisions made by UBS Group in the second and third quarter of 2023 that are not recognised under Credit Suisse AG’s US GAAP accounting policies. The group's $75 billion gross assets make up almost one-tenth of Credit Suisse's balance Feb 8, 2023 · ATLAS SP Partners Launches as Standalone Securitized Credit Origination Platform to Accelerate Growth in Multi-trillion-dollar Asset Backed Finance MarketNEW YORK, Feb. Cas Investment ManagementCo. But there are suggestions that some people may still move to Mizuho instead. The shares of Credit Suisse Group AG went up to a third day after Bloomberg News reported that bidders were lining up for the bank's securitized products unit, a key pillar in the downsizing of its investment banking operations. buyout fund Apollo Global Management - a key part of a sweeping revamp for the Swiss bank. as part of the carve-out of Credit Suisse’s securitized products group, after renegotiating key parts Credit Suisse CS -1. Sep 19, 2017 · Credit Suisse Group AG named Joe Steffa as global head of securitized products trading on Tuesday, according to an internal memo seen by Reuters. as part of a retreat from Wall Street, people familiar with the matter said. Nov 4, 2022 · "Credit Suisse was full of meritocracy until Brady Dougan came along," says another former MD. Nov 22, 2023 · Atlas SP is essentially Credit Suisse's old securitized products group. Nov 15, 2022 · The deal, which is expected to be completed in the first half of next year, will see Apollo hire the majority of the securitized products team, a news release by Credit Suisse said. With the completion of the deal on February 8, a majority of the assets and professionals associated with Apollo’s acquisition are now Mar 27, 2024 · UBS, Apollo conclude agreements to carve out former Credit Suisse Securitized Products business, Atlas SP Maria Nikolova 0 Comments March 27, 2024 UBS and Apollo today announced that they have entered into an agreement pursuant to which ATLAS SP (Atlas) has concluded its Transition Services Agreement with UBS and UBS will close out its Apr 1, 2022 · Mr. Under the terms of the Oct 26, 2022 · Credit Suisse is nearing a deal to sell its securitized-products group to investors Apollo Global Management and Pacific Investment Management Co, a person familiar with the matter told Reuters on The Company is led by CEO Jay Kim, previously Managing Director and Head of Securitized Products at Credit Suisse, and includes a team of more than 200 professionals. SPG assets held by Credit Suisse are set to slide to $20 billion from $75 billion due to this deal and the potential sale of other parts of the SPG Nov 15, 2022 · Credit Suisse accelerates the radical restructuring of its Investment Bank with the announcement that it has entered into definitive transaction agreements to sell a significant part of its Securitized Products Group (SPG) and other related financing businesses to Apollo Global Management (Apollo). The assets come from Credit Suisse’s securitized products business — which packaged debts such as mortgages and yacht loans, and sold them as securities. Aug 12, 2022 · When bailed-out US mortgage giant Fannie Mae wanted to sell almost $2 billion of troubled American home loans in early 2017, only one bank showed up for the auction: Credit Suisse Group AG. The agreement will mark ATLAS’ evolution into a fully independent securitized credit origination platform and the final step in UBS’ carve-out of Credit Suisse’s Securitized Products Group. Sep 16, 2022 · Apollo Global Management Inc. Following the completion of the deals and the proposed sale of other parts of the SPG portfolio to third-party investors, Credit Suisse’s SPG assets are set to dip from $75bn to around $20bn. Key Credit Suisse people, including Jay Kim - the former head of Credit Suisse's fixed income credit products business - are moving across to the new securitization business being formed by Apollo, which purchased elements of the SPG. credit-suisse Mar 27, 2024 · UBS Group AG (UBS) and Apollo conclude investment management and transition services agreements as final step in carve-out of former Credit Suisse Securitized Products business, Atlas SP Zurich 27 Mar 2024, 06:45 CET Media Releases Americas Media Releases APAC Media Releases EMEA Media Global Media Switzerland Investor Releases Price Sensitive Feb 8, 2023 · The Company is led by CEO Jay Kim, previously Managing Director and Head of Securitized Products at Credit Suisse, and includes a team of more than 200 professionals. The group's activity is organized around three sectors: - investment banking; - private banking: fortune management, business and retail banking; - asset management: CHF 1,614 billion of assets under management at the end of 2021. (1) Oct 7, 2022 · Allianz SE's (ALIZF) Pimco and an investor group including Centerbridge Partners are on a shortlist to acquire at least some of Credit Suisse Group's (CS) securitized products Mar 27, 2024 · Apollo agreed in 2022 to acquire most of Credit Suisse's securitized products group, which became Atlas SP. Oct 26, 2022 · (Reuters) -Credit Suisse is nearing a deal to sell its securitized-products group to investors Apollo Global Management and Pacific Investment Management Co, a person familiar with the matter told Mar 28, 2024 · David moved to Atlas SP Partners following Apollo Global Management’s acquisition of Credit Suisse’s market leading SP franchise in 2023. Dec 23, 2022 · If you're a member of Credit Suisse's securitized product group (SPG), it may be Christmas, but it's also a stressful time. buyout fund Apollo Global Management - a key part Aug 3, 2022 · An industry veteran who joined Credit Suisse in 2013, he helped lead the Zurich-based lender’s securitized-products business until departing in May. ATLAS is one of 16 distinct origination platforms backed by Apollo and the largest to-date. 03%decrease; red down pointing triangle Group AG is nearing a deal to sell its securitized-products group to heavyweight investors Apollo Global Management Inc. buyout fund Apollo Global Management - a key part of Nov 15, 2022 · Investing. 34 % decrease; red down pointing triangle and Pacific UBS and Apollo Global Management have finalized a deal to offload Credit Suisse’s former securitized products business, as the Swiss bank continues its integration after the takeover. Experience with Securitized Products, CLOs, TRS, Leveraged Loans, Distressed Debt and Derivatives. Nov 15, 2022 · Credit Suisse moved closer to shedding a securitized-products group that has weighed on its capital ratios. Oct 14, 2022 · While people have been leaving the securitized products group, Credit Suisse has also been quietly hiring. Dryden. However, it might not be so good for everyone else. Following Apollo's acquisition of part of Credit Suisse's Securitized Products Group, ATLAS SP Partners now operates under the majority ownership of Apollo. Nov 15, 2022 · The deals will mark the end of Credit Suisse’ Securitized Products business and the bank will use the proceeds for its core businesses. Nov 15, 2022 · ZURICH -Credit Suisse said on Tuesday it has finalised the sale of most of its Securitized Products Group and related financing businesses to U. P. Oct 26, 2022 · Apollo Global Management and Pimco have teamed up and are close to acquiring Credit Suisse’s securitised products group as the Swiss bank prepares to significantly downsize its operations in the Mar 27, 2024 · UBS has sealed the sale of Credit Suisse's securitised products business to Apollo Global Management as part of efforts to shed non-core assets after its takeover of the collapsed banking group. Oct 26, 2022 · Credit Suisse Group AG is nearing a deal to sell its securitized-products group to heavyweight investors Apollo Global Management Inc. The unit of the investment-banking division deals in securities tied to pools of mortgages and other assets. Oct 31, 2022 · Credit Suisse has agreed to sell most of its securitized products group and other related financing businesses to an Apollo Global Management-led investors group that also includes Pacific Oct 24, 2022 · Credit Suisse Group AG is one of the world's leading financial services groups. Kim said it has 270 employees and that "95% of the existing team" from Credit Suisse are there with him, including everyone from first year analysts to managing directors. The Wall Street Journal reported on Wednesday that Credit Suisse is about to sell its securitized-products group to investors Apollo Global Management and Pacific Investment Management Co. Oct 27, 2022 · -Credit Suisse is nearing a deal to sell its securitized-products group to investors Apollo Global Management and Pacific Investment Management Co, a person familiar with the matter told Reuters Nov 15, 2022 · Credit Suisse on Tuesday announced that it would accelerate the restructure of its investment bank by selling a significant portion of its securitized products group (SPG) to Apollo Global Mar 27, 2024 · UBS has agreed to sell $8 billion in loans to Apollo Global Management in a renegotiation of a deal Apollo originally struck with Credit Suisse, the bank said Wednesday. the news and media division of Thomson Reuters Oct 11, 2022 · With Dryden et al out the door, insiders say the new generation of leaders at Credit Suisse's securitized products business includes: Jon-Claude Zucconi, who's worked there since joining from Barclays in 2011, Peter Sack, who heads mortgage finance, Matt Masso, head of commercial real estate finance, and Steve Viscovich, who's been there 14 years. 08, 2023 (GLOBE NEWSWIRE) -- Apollo (NYSE: APO) and Credit Suisse (SIX: CSGN) have completed a substantial first close of their previously announced transaction under which affiliates of Apollo purchased a significant portion of the Securitized Products Group from Credit Suisse (the “Transaction”). Copying, editing, modifying, distributing, sharing, linking or any other use (whether for commercial purposes or otherwise) of this material, other than personal viewing, without UBS's prior written permission is strictly prohibited. Feb 16, 2023 · Prior to joining Stifel, Vignarajah served as part of the Securitized Products Teams at Credit Suisse, Goldman Sachs, Morgan Stanley, JP Morgan, and Bear Stearns. -ENDS- Nov 15, 2022 · ZURICH (Reuters) -Credit Suisse said on Tuesday it has finalised the sale of most of its Securitized Products Group and related financing businesses to U. Nov 15, 2022 · Credit Suisse said on Tuesday it has finalised the sale of most of its Securitized Products Group and related financing businesses to U. Nov 15, 2022 · Following Credit Suisse's (CS) announcement in October that it will sell most of its Securitized Products Group to Apollo Global Management (APO), the Swiss bank and private equity Jan 22, 2024 · Skewed towards loans and securitized products, they need people to sell them, and sources at Credit Suisse say the resulting jobs are highly secure. and BNP Paribas SA are among investors showing interest in acquiring at least part of Credit Suisse Group AG securitized products group, people with knowledge of the Mar 27, 2024 · UBS has sealed the sale of Credit Suisse's securitised products business to Apollo Global Management as part of efforts to shed non-core assets after its takeover of the collapsed banking group. Credit Suisse accelerates radical restructuring of Investment Bank; Enters into definitive transaction agreements to sell a significant part of its Securitized Products Group to Apollo Click link to download file. Nov 29, 2022 · Ever since Apollo’s acquisition of Credit Suisse’s securitized products group was announced on November 15, speculation about why the asset manager has taken such a bold step and how it Mar 27, 2024 · This is the final step in carve-out of former Credit Suisse Securitized Products business, Atlas SP in which UBS will close out an investment management agreement with Atlas. 08, 2023 (GLOBE NEWSWIRE Oct 27, 2022 · This website uses cookies. Cerberus, Co. Feb 14 (Reuters) - Global investment company Sixth Street is hiring former Credit Suisse banker Linda Hsu as chief operating officer (COO) of its structured products Nov 15, 2022 · ZURICH (Reuters) -Credit Suisse said on Tuesday it has finalised the sale of most of its Securitized Products Group and related financing businesses to U. We understand these changes and aim to bring them to a broad range of investors through solutions that meet their needs. During his 14- year tenure at Credit Suisse, David held a number of key leadership positions across its SP business, including most recently serving as Co-Head of Securitized Products Trading. 5 days ago · Apollo announces launch of ATLAS SP Partners in connection with a close of the Credit Suisse Securitized Products Group transaction ATLAS SP Partners Launches as standalone Securitized Credit Origination Platform to accelerate growth in multi-trillion-dollar asset backed finance market. Nov 15, 2022 · Credit Suisse on Tuesday announced that it would accelerate the restructure of its investment bank by selling a significant portion of its securitized products group (SPG) to Apollo Global Mar 27, 2024 · UBS has agreed to sell $8 billion in loans to Apollo Global Management in a renegotiation of a deal Apollo originally struck with Credit Suisse, the bank said Wednesday. S. However, when Credit Suisse's securitized products group (SPG) spun out into ATLAS, some insiders suggested that Chin wasn't the best man to run it and claimed the SPG had already lost most of its best talent when Michael Dryden and others May 16, 2024 · NEW YORK, May 16, 2024: International Financial Law Review (IFLR) has recognized Credit Suisse for the formation of an $8 billion structured seller-financing facility to a bankruptcy-remote subsidiary of Atlas Securitized Products LP as its Deal of the Year in Securitization and Structured Finance. Nov 15, 2022 · Credit Suisse confirmed on Tuesday that it was selling much of its securitised products group to private equity group Apollo, as the Swiss bank slashes a business that generated substantial Feb 8, 2023 · NEW YORK, Feb. APO -0. Jul 27, 2023 · Cierra Murry is an expert in banking, credit cards, investing, loans, mortgages, and real estate. Feb 9, 2023 · Apollo Global Management Inc said on Wednesday it is creating a new credit unit that now oversees majority of assets it purchased from Credit Suisse Group as a part of the sale of Securitized Dec 7, 2022 · People in areas like the structured products group (SPG), which is being moved to Apollo are also concerned, however. Another 20 Credit Nov 15, 2022 · The Swiss lender said on 15 November that the deal with Apollo and the sale of other assets to third-party investors would slash the value of assets under its securitised-products group to roughly $20bn from $75bn through several transactions that Credit Suisse expects to be close by mid-2023. Financial markets professional with over 20 years of Credit related experience at large Banks. Prior to joining Sixth Street, he was global head of securitized products finance at Credit Suisse AG. Analytical cookies help us improve our website by providing insight on how visitors interact with our site, and necessary cookies which the website needs to function properly. Oct 7, 2022 · Around 10 bidders submitted offers for the bank’s securitized-products group, as it seeks ways to bolster capital after years of rocky performance. "People are still around, working in the non cure unit disposing of Credit Suisse assets and businesses," says one trader. Brian Chin . The firm, led by CEO Jay Kim, focuses on providing innovative financing solutions to various Funds managed by Apollo acquire the Credit Suisse Securitized Products Group in February 2023 and announce the launch of ATLAS SP Partners ("ATLAS"), a new standalone credit firm focused on asset-backed financing and capital markets solutions. She is a banking consultant, loan signing agent, and arbitrator with more than 15 years of Our industry leading, vertically integrated global business delivers execution certainty to clients across all asset classes with a focus on event driven, large scale transactions. In a memo seen by eFinancialCareers, Jay Kim, the global head of fixed income products at the bank, said Steffa is leaving to pursue other opportunities and that his last day Aug 20, 2024 · Kim was hired into Credit Suisse from Barclays in 2012 to run securitized products finance by Brian Chin. UBS ( UBS ) acquired Credit Suisse in 2023 through a government-brokered deal. Nov 15, 2022 · Credit Suisse confirmed on Tuesday that it was selling much of its securitised products group to private equity group Apollo, as the Swiss bank slashes a business that generated substantial. Brian Chin ran the securitized products group at Credit Suisse and was head of the markets division at Credit Suisse's investment bank and then head of the investment bank as a whole until he was let go in April 2021. Keith Willard joined from Nomura as a managing director in mortgage backed securities sales in September. Oct 28, 2022 · Credit Suisse Group AG has signed an exclusivity agreement with a group of investors led by Apollo Global Management Inc. Director Serif Ustun began his career in 2002 in the Fixed Income Research Department at Credit Suisse, where he served as an analyst in the Securitized Products Group covering private- Feb 6, 2023 · The cuts are expected to hit the remains of Credit Suisse's securitized products group (SPG). Oct 24, 2022 · Heavyweight investors Apollo Global and Pacific Investment Management are teaming up to buy the Swiss bank’s securitized-products group, people familiar with the matter said. Nov 15, 2022 · Credit Suisse confirmed on Tuesday that it was selling much of its securitised products group to private equity group Apollo, as the Swiss bank slashes a business that generated substantial Nov 15, 2022 · Credit Suisse on Tuesday announced that it would accelerate the restructure of its investment bank by selling a significant portion of its securitized products group (SPG) to Apollo Global Mar 27, 2024 · UBS has agreed to sell $8 billion in loans to Apollo Global Management in a renegotiation of a deal Apollo originally struck with Credit Suisse, the bank said Wednesday. in Apollo’s acquisition of $8 billion of senior secured financing facilities from UBS Group AG. This is a great thing, said Kim: the team has worked together for years; it's a competitive advantage. “Having worked with the Sixth Street team for many years, I know firsthand their ability to build businesses focused on creating strategic solutions for clients,” said Mr. Feb 4, 2025 · Credit Suisse provides market with updated outlook for the fourth quarter of 2022 Click link to download file. ktttqnb ydwdp nrnuq qdims hbtpz ity ost gnlmex vdubgnm msvl kvi yrjxmwxm gcnne ysneoshyp ylud