People
James H. Ozanne has been appointed to the board of directors at Basis 100 Inc. Ozanne is currently the vice president and director at Financial Security Assurance Corp. His appointment brings the number of Basis100’s Board members to five.
Chief Executive Officer Philip D. Cooper has announced his retirement from ORIX Credit Alliance due to health-related reasons. Cooper will retire from the company March 31, remaining on the board of directors and acting as a consultant. John Moss, president and CEO of ORIX USA Corp. will serve as vice chairman during the transition.
Norddeutsche Landesbank has added Omar Bolli, establishing its ABCP securitization business. Prior to this, Bolli played a prominent role in the ABCP business, working with Citibank, Banc of America Securities and more recently at Sumitomo Bank.
Chief Executive Officer Philip D. Cooper has announced his retirement from ORIX Credit Alliance due to health-related reasons. Cooper will retire from the company March 31, remaining on the board of directors and acting as a consultant. John Moss, president and CEO of ORIX USA Corp. will serve as vice chairman during the transition.
Norddeutsche Landesbank has added Omar Bolli, establishing its ABCP securitization business. Prior to this, Bolli played a prominent role in the ABCP business, working with Citibank, Banc of America Securities and more recently at Sumitomo Bank.
Calendar
February and March in various U.S cities: Prudential Securities presents The Old New World Order: MBS, ABS and CMBS Research Conference. For more information, contact Prudential.
March 2628 in Charlotte, N.C.: Banc of America Securities will host the 2nd Annual Home Equity Securitization Issuer/Investor Forum. For more information, call 1-704- 388-1438.
Miscellaneous
An approved settlement agreement has been reached among the Isley Brothers, The Pullman Group LLC and EMI, allowing The Pullman Group to securitize the Isley Bros. catalog.
Deutsche Bank has announced its acquisition of InterSec Research Corp., a company that offers consulting services to investment firms and pension funds. This acquisition will allow Deutsche to expand its global performance measurement services.
Capital One Financial Corp. is planning to repurchase up to 5% of the 210 million shares of its stock outstanding Dec. 31. The company, whose stock is down 30% this year, is buying back the shares to help reduce the impact of stock issued through dividend reinvestment programs, option programs and associate stock purchases.
Australia-based NRMA Ltd. has appointed ABN Amro Holding NV as arranger for the NRMA Building Society securitization program. The purpose of the program is to allow off-balance sheet, non-recourse, short- and long-term funding backed by a variety of assets, including residential mortgages, personal loans and credit cards. The company plans to issue securities both domestically and globally.
Colonial Advisory Services Inc. is making preparations to sale $727.5 million of securities backed by pieces of other asset-backed and mortgage-backed bonds.
Countrywide Credit Industries has received a lowered rating from Fiche IBCA on its 1996-1 transaction. It has also been placed on rating alert-negative with $499 million withstanding.