Out of the ashes
Portigon – the entity that emerged from the break-up of WestLB – moves away from the AMA for op risk calculation after forced restructure
European bank sovereign derivatives exposures revealed
US dollar Libor banks could find out details of a class action lawsuit against them as early as August
SocGen’s loan group gets Hill start
BNP Paribas has poached a three-strong equity derivatives sales team from Credit Suisse in Frankfurt.
Of the 632 products issued in the UK last year, only five paid income. West LB’s Structured Solutions group wants to change this and has launched a fixed-term CPPI product linked to a high-yield bond fund
Two members of Icap's spot FX team are to leave. Garry Munday, head of spot FX in London, will be joining WestLB later this month, and Rene Simonsen, based in Copenhagen, will be joining Nordea in December.
German bank WestLB appointed its first chief risk officer, Matthijs van den Adel, last year after posting heavy losses in 2002 and 2003. His first job was to restructure the bank’s entire risk management framework. By Duncan Wood
Barclays Capital has hired Nick Nassuphis as head of equity exotic and structured product derivative trading.
Removal of state guarantees and pressure from shareholders for better returns means German banks can no longer churn out uneconomically priced loans to clients. Now they are starting to introduce sophisticated loan pricing systems, writes Duncan Wood
Bank of Ireland's mortgage banking unit is readying the country’s first issuance of covered bonds backed by a pool of residential mortgages. The €2 billion issue, which will be triple-A rated, is set to be priced within the next month. Barclays Capital,...
Ten financial institutions in Singapore have signed up to SD-FX, the FX options pricing system of UK-based technology company SuperDerivatives.
Dresdner Kleinwort Wasserstein (DrKW) has transferred Mike Gordon and Carlos Cala from Tokyo to Singapore in an effort to balance its credit business resources between the two cities, according to an official at the bank in Tokyo.
Dresdner Kleinwort Wasserstein (DrKW) has hired TJ Cheng as a vice-president in its credit derivatives and securitisation team in Tokyo.
German bank WestLB has gone live with Credient, SunGard Trading & Risk Systems' credit risk software package.
German bank WestLB has gone live with Credient, SunGard Trading & Risk Systems’ credit risk software package.
South Africa's Standard Bank has hired Philip Chu as head of global markets in Asia.
Germany’s WestLB has snared Anthony Brown as executive director and head of credit sales. Based in London, he will sell a range of credit products to non-German-speaking accounts.
The global financial markets group of Düsseldorf-based Westdeutsche Landesbank (WestLB) has selected New York-based transaction processing technology company, Summit Systems, for a major consolidation of its systems environment. The integrated system...
European corporate treasurers and finance officers are still way behind in their preparations for IAS 39.
The delayed first run of TriOptima’s swap tear-up service, TriReduce, eliminated 7,880 euro-denominated interest rate swaps with a notional value of €420 billion – or about a fifth of the notional value of the credit derivatives market.
Janet Tavakoli, former head of capital markets financial engineering at Westdeutsche Landesbank (WestLB) in London, has launched a derivatives consultancy - Tavakoli Structured Finance.
Banco de Mexico, the central bank of Mexico, has signed up for OpenLink’s Findur solution to integrate its front-, middle- and back-office functions. OpenLink is a New York-based trading and risk management software company.