Fortis Bank

CDS spreads tighten as bailout is revised

The cost of protection on some of the world’s largest financial institutions fell yesterday as the US Senate agreed to vote on a revised version of the $700 billion financial rescue plan.

Fortis Bank appoints new chairman

Fortis Bank has appointed Filip Dierckx as its new chairman. He succeeds Herman Verwilst, who has held this position since Fortis Bank was established in 1990.

Fortis Chicago merges with O'Connor and Company

Benelux bancassurer Fortis has completed its acquisition of O’Connor and Company, the Chicago-based clearing house. The new company is called Fortis Clearing Americas and will be run within Fortis’ merchant banking division.

Fortis to expand structured products offering

Fortis Bank is to expand its range of structured products in response to the growing investor appetite for exotic and hybrid investments. Under the plan, scheduled for completion in 2010, the bank will increase its current, mainly credit-focused offering…

SG strengthens equity derivatives sales

SG, the investment banking arm of Société Générale, has appointed Fredrik Langley and Raman Khosla to its equity derivatives structured products sales team in London. Both take the title executive director, a new position within the group.

Lepus lists op risk leaders

US firm OpRisk Analytics, Canada-based Algorithmics, and UK company Raft International are leading the operational risk vendor market, according to a report published in January by management consultancy Lepus.

Top investors in credit

This year has been an eye-opener for investors in European credit, with some fund managers living dangerously by under-investing in credit expertise

Capital concerns

Basel’s proposals for banks involved in the repo markets have caused widespread dismay. As a result, trade organisations around the world are petitioning the committee for a wholesale rethink.

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