While the Cayman Islands’ current inclusion on the FATF “Grey List” and the EU “Black List” for AML purposes is not of material relevance to transactions in the fund finance world, the Cayman Islands recently received some very positive news when FATF confirmed at its June meeting that the Cayman Islands has now met all 63 of its recommended actions regarding the jurisdiction’s AML framework.
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Cadwalader U.S. fund finance head Wes Misson was named a “Most Effective Deal-Maker” at last month’s 2023 ALM Southeastern Legal Awards in Atlanta.
Dee Dee Sklar has joined Coller Capital as a Senior Advisor.
Dee Dee has worked with Coller over many years as a client relationship and said she is very pleased to take on this new role. With a career spanning asset management and banking, Dee Dee most recently worked as Vice Chair, Subscription Finance for Wells Fargo after serving as Global Head of the Funds Subscription Finance business. Dee Dee is the Global Chair of Women in Fund Finance and holds business development roles for the Fund Finance Association. She has numerous Board and Advisor positions across the fund finance industry.
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Hamish Massie has joined Bridgepoint as a Vice President in the London office.
He will be focusing on Fund Finance as part of the Portfolio Financing & Structuring team within Bridgepoint Credit. Hamish was previously at Bank of Ireland, where he was a Deputy Manager on the Subscription Finance team.
Investec Bank is looking to hire legal counsel to join its market-leading Fund Solutions business in London.
Whether it's a trip to the beach or dip in the pool, a bike ride or hike, or a barbecue with family and friends, we hope everyone in the U.S. has fun plans for the Fourth of July Weekend and a celebration of Independence Day on Tuesday.
Happy 247th birthday to America!
We reported in last week’s edition of Fund Finance Friday on some of the significant themes and topics at the FFA 7th Annual European Fund Finance Symposium. Given the breadth and depth of panel sessions and conversations, we could not do the Symposium justice by attempting to include all of our key take-aways in one article, and so we continue our summary this week.
The London Interbank Offered Rate (LIBOR) will stop being published on the basis of panel bank quotes and will be replaced by alternative replacement rates after today. In the spirit of the season, below is the commencement speech I would imagine giving.
M&T Bank is hiring a Relationship Manager for Fund Finance to be based in New York. Candidates should contact Michael Sinclair for additional information.
On Monday, nearly 850 fund finance professionals from all over the world attended the FFA’s 7th Annual European Fund Finance Symposium at the Queen Elizabeth II Conference Centre in London. Discussions touched on areas such as liquidity and pricing, ESG, non-bank lenders and trends in NAV/sublines, as well as diversified collateral and risk management in 2023 and beyond (to name just a few). This week and next, we will summarize some of the key themes that we saw emerge during many of these discussions.