Spotlight: Local exchange carriers - calling for rescue on the M&A hotline
Growth-starved US phone companies are seeing consolidation as the best way to improve performance

Talk of carbon dioxide reduction boosting credit returns is hot air
There are good reasons to adopt a carbon neutral investing philosophy – just don’t expect it to have a major effect on alpha generation

Gone but not forgotten
ACA Capital’s spectacular collapse heralded the demise of the monoline business and scattered its employees into jobs right across the credit space

The growing Swiss network
Defunct investment banks such as Lehman Brothers are not the only ones with a healthy diaspora of credit traders. UBS has a wide network of ex-colleagues.

Adding an Asian presence
Taking the plaudits as the first euro CLO 2.0 arranger and turning heads by distributing CLOs to Asia, Credit Suisse has set itself up as a global CLO player.

Her Majesty’s secret CLO desk
They don’t know it, but through their ownership of nationalised RBS, UK taxpayers may hold the world’s biggest portfolio of CLO paper. Sayed Kadiri analyses RBS’s Stamford-based CLO business

Oh Brothers, where art thou?
Lehman Brothers’ collapse scattered one of the best regarded structured credit teams in the business around the investment banks and hedge funds of the world

Reaching for yield distorts markets
It is well understood that many investment losses are caused by investors chasing yield. But the problem is more widespread than most realise

Viewpoint - Consolidation: part II
Stone Tower’s James Galowski believes CDO manager consolidation has only just begun