Foreign exchange
The best-laid plans ..
Strategic risk is recognised as a potential serious risk under Pillar II of Basel II. But isolating what strategic risk actually is, let alone how to quantify it, has caused some problems for risk managers. Bob Allen of the Australian Prudential…
Xinhua and Fermat bring Basel technology to China
Xinhua Financial, a media company, and Fermat, a risk technology specialist, have signed a deal to provide Basel II software in the world’s fourth largest economy.
RBS accepts LaSalle sale and rejigs bid
The saga of the sale of LaSalle to Bank of America took a futher twist after a ruling from the Dutch Supreme Court, on July 13, that the disposal of the US distributor to Bank of America (BofA) did not need shareholder approval.
Trichet presents ECB annual report
Jean-Claude Trichet, president of the European Central Bank (ECB), briefed the European Parliament on the bank’s 2006 annual report in Strasbourg last week.
Real estate takes from alternative investments
High net worth individuals shifted more money into real estate investments, at the cost of alternative investments in 2006, says Merrill Lunch and Capgemini in their 11th annual World Wealth Report. Published on June 27 2007, the report noted a rise in…
Barclays offers access to infrastructure and Asian equity
Barclays Wealth has launched two new structured products offering access to infrastructure stocks and the Asian equity market. The Guaranteed Global Infrastructure Account and Guaranteed Asian Equity Accounts are designed to return investors’ capital if…
UK FSA names new head
The Financial Services Authority (FSA), which regulates the UK’s finance market, is to appoint Hector Sants as its new chief executive.
Dawnay Day launches Maximiser II
Dawnay Day Quantum (DDQ) will launch DDQ European Stockmarket Maximiser II on 23 July, offering exposure to the Dow Jones EURO STOXX 50 Index with 10 times the index return, up to 60%; 1.75 times the index return, above 60%, uncapped; 100% capital…
BBVA poaches Isla from BarCap
BBVA has hired Lorenzo Isla from Barclays Capital (Barcap) as head of credit derivatives structuring. Isla will be based in Madrid and he joined from BarCap in London where he was head of structured credit strategy.
BGI adds in Asia
Barclays Global Investors (BGI) appointed three new members to its Asian business at the end of June. Nick Good was appointed head of iShares, Asia-Pacific, responsible for iShares in Australia, China, Hong Kong, Japan, Korea, Singapore and Taiwan. Good…
Lyxor gains licence to operate in Japan
Lyxor Asset Management, Société Générale’s wholly owned subsidiary, has obtained a licence from Japan’s Financial Services Agency to conduct investment trust management services in Japan.
Fed governor says hedge funds present systemic danger
Kevin Warsh, a governor at the US Federal Reserve, said hedge fund losses could threaten the finance industry.
US Fed chief stresses need for speed on Basel II
Randall Kroszner, a governor at the US Federal Reserve, said he wants to get Basel II implemented fast.
Hedge funds "pose systemic risk," says US Treasury
Steele reveals new guidelines to mitigate threat
Trio of vendors spearheading Basel credit risk work
SAS, SunGard, Algo lauded by Chartis
ABN creates to meet environmental demand
ABN Amro has launched Sustainable Eco (Seco) notes and swaps linked to the Kenmar Global Eco Fund (KGEF). The structured products are aimed at institutional investors looking for exposure to Socially Responsible Investments (SRI) and Environmental,…
Income for EM carry trades
JPMorgan has launched IncomeEM, targeting opportunities from carry trades in emerging foreign exchange markets, and which it will sell to institutional and high net worth investors in the form of structured products.
JP Morgan designs emerging-market forex carry index
JP Morgan has created an index that seeks to exploit the carry trade in emerging-market currencies.
Deutsche Börse calculates DAXplus strategy indexes for more countries
Deutsche Börse has launched four new DAXplus strategy indexes for Japan, the US, Switzerland and France. The indexes, dubbed DAXplus Minimum Variance and DAXplus Maximum Sharpe Ratio, are rule-based and track passive risk/return-optimised investment…
Basel IA to attract large US regional banks
Improvised rule to miss national and local banks, say report
Kempen & Co. hires Pontier and Zoutenbier to build structured products business
Kempen, an investment bank in Amsterdam, has hired Koen Zoutenbier from Fortis and Hans Pontier from Rabobank to build a structured products business for its institutional and private investors and its private banking clients at Van Lanschot, which…
Southern and eastern European central banks agree to work together on regulation
Seven European central banks have agreed on a framework to enhance co-operation on banking supervision.
EBS prepares for Basel II with Misys
EBS, an Irish building society, is using software vendor Misys’ Almonde platform to ensure Basel II compliance.