More foreign banks see underwriting asset-backed securities as their way of breaking into the close-knit world of Wall Street.

In the past six months several foreign banks have been scouring ratings agencies and rival banks for asset-backed underwriters and analysts. Headhunters and investment bankers say Canadian Imperial Bank of Commerce, Barclays Bank PLC, Deutsche Bank AG, Societe Generale, and Westdeutsche Landesbank AG have been the most active.

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