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Financial Services

S&P: 'Weakest Link' Companies Decline

March 17, 2010 - The number of "weakest link" companies has declined substantially from the record highs reached roughly a year ago, according to a report from Standard & Poor’s. There were 203 such companies as of March 10, down from 298 one year ago.

Moelis Grows Australian Platform

March 17, 2010 - Moelis & Co. added to its new Australian office by hiring two managing directors. The firm's team down under originally consisted of only corporate finance professionals, but the two appointments bring expertise in equity capital markets and equities research, sales and trading.

Jefferies Hires CMBS Cap Markets Chief

March 17, 2010 - Jefferies & Co. appointed Mark Green as a managing director and head of commercial mortgage-backed securities capital markets.

Deutsche Takes Control of Sal. Oppenheim

March 16, 2010 - Deutsche Bank has completed its $1.3 billion (€1 billion) acquisition of German private bank Sal. Oppenheim.

Sterling Group Rounds Up $820M for New Fund

March 16, 2010 - The Sterling Group said Tuesday that it raised $820 million for its third investment fund, exceeding its initial target of $600 million.

New Investments in Hedge Funds Seen Topping $220B

March 16, 2010 - Hedge fund inflows are expected to top $220 billion this year as asset levels return to near pre-crisis levels.

Credit Suisse Builds Russian Fixed-Income Team

March 16, 2010 - Credit Suisse said on Tuesday it expanded its fixed-income business in Russia with hires in sales and trading as part of an effort to build its foreign exchange, rates and local securities businesses in Moscow.

Dodd Releases Details of Reform Bill

March 15, 2010 - Senate Banking Committee Chairman Chris Dodd on Monday released a broad outline of his regulatory reform bill, which heavily reflects input from Republicans who still say they oppose the bill.

KKR IPO Filing Raises Succession Question

March 15, 2010 - Kohlberg Kravis Roberts is planning to go public, raising the question of who will eventually succeed Henry Kravis and George Roberts in running the firm.

Anthracite Capital Files for Chapter 7 Liquidation

March 15, 2010 - Anthracite Capital, a publicly held real estate investment trust managed by BlackRock Financial Management, filed for Chapter 7 liquidation on Monday.

KKR Revamps Asset Management Debt Team

March 12, 2010 - Kohlberg Kravis Roberts has promoted four professionals in its asset management department to run the firm's asset management global special situations strategy, which includes distressed debt, debtor-in-possession and rescue financing, as well as other structured investments.

Jackson Rejoins Wells to Trade Specified Pools

March 12, 2010 - Kevin Jackson, previously a director in the convexity products group at Bank of America Merrill Lynch, will be rejoining Wells Fargo as part of the firm's efforts to bolster its residential financing, origination and trading activities.

HY Fund Inflows Set Record

March 12, 2010 - High-yield bond funds took in more than $1 billion for the week ended March 10, research firm EPFR Global announced today. The total marks the highest weekly inflow since the firm began tracking fund flows.

Bank Fails in Rare Thursday Closure

March 12, 2010 - State regulators shut $209.7 million-asset LibertyPointe Bank of New York, a rare move for a Thursday evening that usually indicates a bank's condition was deteriorating rapidly.

Treasury Bungled GMAC Bailout, Watchdog Says

March 11, 2010 - A scathing report by a Congressional watchdog examining the bailout of GMAC Inc. found that the Treasury Department did not adequately protect taxpayer money and should have orchestrated a strategic bankruptcy of the auto finance company.