News

Wells Fargo launched an emerging middle-market (EMM) segment within its Metro New York commercial banking team. The new segment will be led by Alicia Iskhakova in New York City and John DeSclafani in New Jersey.

Nearly 70% of lenders are concerned about anticipated small business lending data collection regulations and the ability to manage those requirements, according to Wolters Kluwer, which reported concerns about new regulations have “jumped considerably” in 2022.

AustralianSuper, Australia's largest superannuation (pension) fund, entered into a partnership with Churchill Asset Management, with an initial instalment of $250 million, intended to grow substantially over time.

Nearly 70% of lenders are concerned about anticipated small business lending data collection regulations and the ability to manage those requirements, according to Wolters Kluwer, which reported concerns about new regulations have “jumped considerably” in 2022.

The Federal Reserve announced that it will raise the target range for the federal funds rate to between 4.25% and 4.5% on Wednesday, marking a 0.5% increase and the seventh overall increase this year.

Vida Capital, a portfolio company of RedBird Capital Partners and Reverence Capital Partners, announced a corporate rebranding, which includes the changing of its name to Obra Capital, as part of the company’s ongoing business evolution.

Axiom Bank launched a new commercial finance division headquartered in Dallas. The new division will service businesses seeking asset-based lending, factoring and equipment financing credit facilities. Michael Haddad will serve as president of the new division.

Versana launched an industry-backed syndicated loan platform, bringing to market a new centralized solution that digitally captures agent banks' deal data on a real-time basis, providing the modern foundation for future market innovation and collaboration.

According to Biz2Credit’s Small Business Lending Index, small business loan approval percentages at big banks dropped from 14.7% in October to 14.6% in November, marking the second lowest monthly percentage in 2022.

Quanergy Systems initiated an orderly sale process for its business. To facilitate the sale and maximize value, the company filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of...