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Financial Services

Deutsche Transfers Banker To Dubai

July 3, 2008 - Christopher Laing, Deutsche Bank's co-head of equity capital markets for Central and Eastern Europe, the Middle East and Africa, is relocating from London to Dubai. He will manage and grow the firm's equity capital markets business in the Middle East and Africa.

Lehman Offers Early Bonuses For Employees

July 3, 2008 - Lehman Brothers is giving its 26,189 employees a portion of their bonuses early this year, in the form of an advance against any future equity award that is typically given out at year-end.

Another Rough Month For Financial-Services Jobs

July 3, 2008 - For professionals on Wall Street, the June jobs number confirmed what many already knew: The financial-services segment of the US economy lost jobs last month.

Huntsman, Hexion Saga Continues

July 3, 2008 - The tango between Hexion Specialty Chemicals and Huntsman, a process tght started about a year ago, goes on.

Deutsche Bank Buys ABN Assets

July 2, 2008 - Deutsche Bank said Wednesday it will buy commercial banking businesses of ABN AMRO in the Netherlands for €709 million, or $1.13 billion, in cash. The deal is expected to close in the fourth quarter.

Moody's Downgrades Freddie-Approved Insurer

July 2, 2008 - Freddie Mac-approved mortgage insurer Republic Mortgage Insurance Co. has been downgraded by Moody’s Investor Services to 'A1' from 'Aa3.'

Carlyle, Crown Wrap Up Real Estate Buy

July 2, 2008 - The Carlyle Group and Crown Acquisitions said Wednesday they have completed their $525 million joint venture purchase of a controlling interest in the retail segment of 666 Fifth Avenue from the building’s owner, Kushner Cos.

Needham Appoints Private Placements Head

July 1, 2008 - Peter Bennett, formerly head of private placements at Deutsche Bank, Piper Jaffray and Lazard Middle Market, has been tapped to lead the private placement group at Needham & Co.

CIT Exits Mortgage Business

July 1, 2008 - CIT Group will sell its home lending business and manufactured housing portfolio in a move to reduce mortgage exposure as the global finance company redirects its focus on commercial finance.

Mitsubishi UFJ Growing Private Placement Presence

July 1, 2008 - Mitsubishi UFJ Securities (USA) Inc. said Tuesday that it hired Conrad Owen to run its new Private Capital Markets group, a move that is designed to expand into an area of finance that is expected to see heightened activity amid tightening credit market conditions.

Hicks Seals $3.2B Plastics Packaging IPO

June 30, 2008 - Hicks Acquisition Co., a SPAC established by private equity financier Thomas Hicks, said Monday that it has reached an agreement to go public with Graham Packaging Holdings in a $3.2 billion transaction with The Blackstone Group, marking potentially the largest deal to be executed between a blank check entity and an industrial company.

Merrill Hires 30 Ex-UBS Muni Bankers

June 30, 2008 - Merrill Lynch has scooped up nearly 30 public finance bankers from the ranks of the now-shuttered municipal group at UBS--taking advantage of a 'once-in-a-decade opportunity' as its Wall Street neighbors shed staff to cope with subprime market-related losses, the firm's municipal chairman said.

Heightened Worries For GM, Ford, Chrysler

July 1, 2008 - Credit default swaps, a market on Wall Street where corporate debt investors can buy protection against default, continue to take a harsher look at Chrysler, Ford and GM amid ongoing signs of a slowing economy and rapid gains in oil prices that are sapping demand for their products.

JHT Delivered To Bankruptcy Court

June 30, 2008 - JHT Holdings Inc., a Kenosha, Wisc.-based delivery service provider to North American commercial vehicle manufacturers, filed for bankruptcy protection on June 24.

Whitehall Jewelers Files, Seeks DIP Loan

June 30, 2008 - Whitehall Jewelers of Chicago filed for bankruptcy protection on June 23 in Delaware's bankruptcy court.