News
On the move
People
Citi appoints Dial to head consumer banking
As part of its ongoing corporate restructuring, Citi has appointed Teresa Dial as the chief executive officer of consumer banking in North America. Reporting directly to Vikram Pandit, the group’s chief executive officer, she will also assume the title…
Edsparr to join Citadel
Chicago-based hedge fund Citadel has hired JP Morgan's head of rates, Patrik Edsparr. He will join Citadel as the chief executive of Europe and also lead the firm’s global fixed income business, including securitised products.
Call selling gains popularity
Fears of recession and increased volatility have led to the return of strategic overwriting strategies – the selling of call options to gain extra yield.
Yen rise triggers PRDC hedging
The yen hit its highest level against the dollar since August 1995 on March 17, spurring banks to hedge exposures to power-reverse dual currency notes (PRDCs) and other similar structured products.
JP Morgan CDS exposure could top $10 trillion
JP Morgan’s proposed acquisition of Bear Stearns could push the bank’s already formidable footprint in the credit default swaps (CDS) market through the $10 trillion notional barrier, raising questions over the prudence of such large concentrations…
UBS in Gathering Storm of Subprime Lawsuits
LOSSES & LAWSUITS
Beware the Ides of March
LOSSES & LAWSUITS
Barclays Scrutinised over Terror State Links
LOSSES & LAWSUITS
Lack of broker Fidelity leads to $8m payout to us regulator
LOSSES & LAWSUITS
More Bad News for Merrill
LOSSES & LAWSUITS
The Bear Stearns Blues continue
LOSSES & LAWSUITS
MF Global hit by rogue trading
LOSSES & LAWSUITS
AIG Post $5 Billion Q4 Loss
LOSSES & LAWSUITS
S&P Rates Subprime Cost $285bn
LOSSES & LAWSUITS