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| U.S. Bank Sponsors
Euromoney Levinvest 2013
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| U.S. Bank Global Corporate Trust Services has been
serving the European CLO market since 2000 and
currently administers over 20 deals. Since the start of
2013, and the resurgence of the market, the European
team has been successfully mandated on 7 of the 14
new CLO deals (as of September 2013), representing the highest market share
of all European trustees. “The team is not only being
selected by existing clients such as Cairn Capital but
also by new clients both from the U.S. and European
Asset Manager community” said Anatoly Sorin, Head of
CDO/CLO Relationship Management.
The European success builds upon the dominance of
Global Corporate Trust Services in the U.S., where U.S. Bank currently ranks as number one Trustee,
with a 33% market share in the CLO Trust and Agency market (as of August, 2013).
Sorin continues, “Having built strong relationships with
Asset Managers in the U.S., we are now receiving
requests to work on new deals with their European
offices. Our ability to replicate the high administration
and reporting standards and support clients globally has
been a key factor in winning a number of mandates from
Asset Managers with a global footprint”.
U.S. Bank Global Corporate Trust Services continues
to raise its profile across the industry having proudly
sponsored the Euromoney CLO Congress & Leveraged
Finance event at the Landmark Hotel on the 2nd - 3rd
of September. “Following a kick-start year in Europe,
most of the Collateral Managers were present,” said
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| Michael Whelan, Head of Relationship Management and Sales. “The event was a great opportunity for us to showcase our capabilities and expertise in this market”.
One of the key talking points at the conference was the
proposed securitisation risk retention rules set out in
the EU Capital Requirements Regulation which are to
be adopted from 1st January 2014. Although there was
concern particularly regarding how the smaller asset
managers' ability to issue new CLOs will be impacted,
it was widely agreed that efforts should now be
focused on how to comply. A spokesman from the EBA
reiterated that the proposed regulatory changes were
not there to hinder growth in the securitisation market
but to help restore the reputation that was damaged
during the crisis. Most speakers felt it would take time
and a number of adjustments for the rules to achieve
that goal.
Interested in learning more about U.S. Bank Global
Corporate Trust Services? Visit us online at
usbank.com/corporatetrust.
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