Best global securitization house:
Credit Suisse
| Also shortlisted: Bank of America Merrill Lynch Citi |
| View more 2014 awards |
As the securitization markets continue their slow but steady rehabilitation, the changed nature of the asset class is becoming ever clearer. What was once a mass funding tool for the banking sector has been changed beyond recognition by post-crisis financial regulation. What it now represents is a big opportunity for banks with the insight and structuring capability to see past the obvious. The bank that best fits that bill this year is Credit Suisse.
“We have proactively adapted to the changing environment,” explains Jay Kim, head of global asset finance at Credit Suisse, who joined the Swiss bank from Barclays, along with 13 members of his team, in 2011. “Securitization is not just focused on capital markets anymore,” he says. “You need to come up with a corporate finance strategy.”
Perhaps the best example of this in the last year is STACR 2013-DN1 for Freddie Mac, a recipient of a Euromoney Deal of the year award earlier this year.