Page 12 - ஸ்யூயி சொத்து மேலாண்மை News Today : Breaking News, Live Updates & Top Stories | Vimarsana
George Hornig Named Chairman of the Xometry Board of Directors
manufacturingtomorrow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from manufacturingtomorrow.com Daily Mail and Mail on Sunday newspapers.
citybizlist : Washington DC : Xometry Appoints George Hornig to Board
citybizlist.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from citybizlist.com Daily Mail and Mail on Sunday newspapers.
Credit Suisse names new asset management head, separates out division
financialpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialpost.com Daily Mail and Mail on Sunday newspapers.
Greensill income built on high risk
Save
Share
Greensill Capitalâs biggest source of income was buying and selling invoices from risky companies that required insurance, underscoring its precarious business model, court documents have revealed.
Some 90 per cent of Greensill Capitalâs annual revenues, which were $US420 million ($540 million) in 2019, came from insured receivables, Greensill founder and chief executive Lex Greensill told the UK High Court of Justice in a witness statement after filing for insolvency last week.
Buying invoices from high-risk companies was more profitable for Lex Greensillâs Greensill Capital than buying invoices from investment-grade companies with better credit ratings.Â
By Owen Sanderson
16 Mar 2021
Last year’s market crash and then screaming rally might have been a rough ride for CLO managers and investors alike, but it has stimulated innovation and maturity in a market which, in Europe, still had some growing up to do.
A year ago last Friday, the last pre-pandemic CLO was priced in Europe, Credit Suisse Asset Management’s Madison Park Euro Funding XV. The pricing wasn’t pretty, at least compared to the levels that prevailed just a couple of weeks before, but arranger Citi got the bonds away, somehow.
A week after that, there was no hope at all of doing a deal. Prices plunged in subordinated tranches and equity, traders put in hefty margin calls on repo positions, and the market clanged shut. Managers and banks butted heads over warehouse terms, with some choosing to close down facilities, and others agreeing to waive triggers and restrictions in the hope of recovery down the road.