Items Tagged with 'RBS Securities'

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  • RBS will pay $44 million for cheating customers in mortgage bond trading

    Will pay $35 million penalty, $9 million in restitution to victim customers
    RBS Securities agreed to pay $44 million as part of a non-prosecution agreement covering allegations that the company’s mortgage-backed securities trading group defrauded its customers out of millions of dollars by lying about mortgage bond trades, the Department of Justice and the Special Inspector General for the Troubled Asset Relief Program announced Thursday.
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  • FDIC wins $190M settlement for toxic Countrywide mortgage bonds

    Settlement stems from failure of five banks
    The ghosts of Countrywide past just struck again, as the Federal Deposit Insurance Corporation announced Thursday that eight major financial institutions will pay $190 million total to settle a series of lawsuits tied to toxic Countrywide mortgage bonds that subsequently led to the failure of five banks during the housing crisis.
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  • Amherst Keeps Picking up the Staff

    Amherst Securities Group is continuing its hiring spree by adding a new team of mortgage-backed securities (MBS) and asset-backed securities (ABS) salespeople at its Chicago office. The firm appears to buck the trend that anything linked to the securitization trade is in a hiring quagmire. Recently, the Austin-based company started to pull talent from ailing or collapsing firms.
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  • Bear Stearns MBS Vets Jump to RBS Greenwich

    And the exodus of former Bear Stearns & Cos. MBS personnel continues -- but, in a surprising move, more than a few have landed at RBS Greenwich Capital in recent weeks. Despite the industry downturn, the Connecticut-based fixed-income firm said Wednesday that it had added 16 professionals to its mortgage-backed securities team; fifteen of the hires hail from Bear Stearns alone, including Scott Eichel, who has been tapped to co-head asset-backed and mortgage trading at the firm.
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  • Jefferies Snaps Up RBS Greenwich Execs, Looks to Grow MBS Presence

    Downturn? What downturn? Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. [stock JEF][/stock], said earlier this week that it had expanded its fixed income business in mortgage-backed securities, snapping up two former managing directors from RBS Greenwich Capital as the New York-based firm looks to leverage itself in a down market.
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