Latest banking news, Aug. 12, 2022

Mitsubishi UFJ Financial Group forms direct lending group

Pedestrians walk past a Bank of Tokyo-Mitsubishi branch in Tokyo.

Mitsubishi UFJ Financial Group has started a group that will provide loans to the Tokyo-based company's private equity clients. "We started a direct lending initiative in 2019 when our sponsor clients approached us to finance their middle market LBOs outside of the broadly syndicated institutional market," Matt Maley, who will lead the team as the New York-based head of direct lending, said in a press release. The group will oversee all aspects of direct lending, including sponsor coverage, portfolio management, relationship management and loan organization. — Elizabeth Lawrence

Missouri bank's fintech arm raises $30 million

Central Payments in Sioux Falls, South Dakota, a subsidiary of Central Bank of Kansas City in Missouri, has raised $30 million in growth-equity capital. Central Payments, which operates a banking-as-a-service platform for fintechs and embedded finance businesses, said it plans to use the funds to expand staffing and further develop products and technology. Castle Creek Capital, based in Rancho Santa Fe, California, led the round with an assist from Launchpad Capital in Oakland, California. — Kate Fitzgerald

Top Citigroup U.K. dealmaker resigns amid probe

Citigroup Confronts Vaccine Holdouts In No Jab, No Job Mandate

Victor J. Blue/Bloomberg

Citigroup dealmaker Jan Skarbek, one of the U.K.'s most high-profile investment bankers, has resigned from the firm amid an ongoing probe, people with knowledge of the matter said. The U.S. lender announced internally this week that Skarbek is leaving after about 28 years with the firm, according to the people, who asked not to be identified because the information is private. It promoted Skarbek last year to become co-head of its banking, capital markets and advisory business in the U.K. and Ireland. Citigroup had suspended Skarbek pending an investigation into allegations of misconduct, Bloomberg News reported in July. The bank has been looking into a complaint about comments that Skarbek allegedly made to a female employee during a recent staff getaway, people with knowledge of the matter said at the time. The probe was still ongoing at the time of Skarbek's resignation and hadn't reached a conclusion, the people said. A representative for Citigroup declined to comment, as did Skarbek. — Ruth David, Bloomberg News

Jefferies hires Citi’s Biller in Asia expansion blitz

Jefferies Financial Group has hired David Biller from Citigroup, bringing the veteran banker back to Asia from Europe to help boost its practice in the region, according to people familiar with the matter. Biller is joining Jefferies as head of Southeast Asia and head of Asia industrials investment banking, said the people, who asked not to be identified because the matter is private. He will be based in Singapore and plans to start on his new role later this year, the people said. He has been with Citi for more than 18 years and was most recently the co-head of industrial banking for EMEA, Asia and Japan, according to his LinkedIn profile. He relocated to London from Singapore last year. Representatives for Citi and Jefferies declined to comment, while Biller couldn't be reached for comment. Jefferies has been expanding in Asia, where it has hired about six managing directors in recent months. Those include former Citigroup veteran Christopher Laskowski as head of Asia investment banking as well as Citi's head of Hong Kong investment banking, Aaron Chandrasakaran, along with Philip Li, a director. It also hired former Credit Suisse Group banker Michael Tan as head of financial institutions group and Ellis Chu as head of mergers and acquisitions in Asia. — Manuel Baigorri and Joyce Koh, Bloomberg News, with assistance from Cathy Chan

WebBank subsidiary acquires Florida finance company

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National Partners PFco, a subsidiary of WebBank in Salt Lake City, acquired Security Premium Finance Co., a finance company based in Coral Gables, Florida. Founded in 1995, Security Premium provides insurance premium financing services to purchase property and casualty insurance products in Florida. The acquisition price was not disclosed. — Julia Demeny

Barclays hires top Houlihan Lokey banker

Jason Alden/Bloomberg

Barclays has hired Roy Kabla, a top banker in Houlihan Lokey's tech, media and telecom practice, according to an internal memo reviewed by Bloomberg News. Most recently the global co-head of that practice for Houlihan Lokey, Kabla is joining Barclays in its New York office to lead its media and entertainment investment banking unit. Roy Kabla, previously of Houlihan Lokey, has been hired by Barclays as head of the firm's media and entertainment investment banking practice. The banker got his start in Toronto roughly 25 years ago at TD Securities, according to his LinkedIn profile. He subsequently joined Barclays as a senior banker following the firm's purchase of Lehman Brothers. Before Houlihan, Kabla went on to work at Nomura spending a considerable time in Tokyo, his LinkedIn profile said. A representative for Barclays confirmed the contents of the memo. A spokesperson for Houlihan Lokey couldn't be immediately reached for comment. — Kamaron Leach, Bloomberg News

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