News
Congressman Baker likely to head the Managed Fund Association
Richard Baker, a Republican member of the US House of Representatives and a senior member of the House Financial Services Capital Markets Subcommittee, is in final negotiations to become chief executive of the Managed Fund Association (MFA), a Washington…
BNP names first European equity derivatives flow sales head
BNP Paribas has named Nick Tranter as its London-based head of European equity derivatives flow sales, a newly created role.
Julius Baer poaches UBS marketers in Singapore
Wealth manager Bank Julius Baer has expanded its marketing team in Singapore with several senior hires from Swiss rival UBS.
UBS launches Greenhouse Index
UBS Investment Bank has launched the UBS Greenhouse Index (UBS-GHI) , the first tradable investment benchmark tracking the Greenhouse Effect.
DBRS retreats from Europe
Dominion Bond Rating Service (DBRS) has closed its European offices in London, Paris and Frankfurt as a result of deteriorating revenues in the wake of the credit crisis.
UBS launches Greenhouse Index
UBS will launch its UBS Greenhouse Index (UBS-GHI) on January 23. It is a tradable investment benchmark tracking a combination of weather futures and greenhouse gas emissions credits.
Transparency Directive rules too complex, says ESME
Daily news headlines
Cayne bows out of Bear Stearns
James Cayne, chairman and chief executive of Bear Stearns, is the latest bank executive to lose his job as a result of large quarterly losses, according to news reports. The firm’s president, Alan Schwartz, who has been with the firm since 1976, is…
Del Missier becomes sole president of BarCap
Jerry del Missier has been appointed sole president of Barclays Capital, the investment banking arm of Barclays Bank. He remains based in London. The move comes after the resignation of Grant Kvalheim, his New York-based co-president.
FSA given powers to prevent another Northern Rock
Daily news headlines
CBI/PwC survey “one of the gloomiest ever”
Daily news headlines
Shanghai launches gold futures
The Shanghai Futures Exchange (SFE) will launch trading in gold futures on Wednesday, January 9. The contract size has been set at 1,000 grams, rather than 300g as earlier announced, chiefly to discourage speculation by individual investors.
Moody’s: 2008 marks turning point for credit cycle
New York-based rating agency Moody’s Investors Service said the global corporate default rate had reached its lowest level in two decades by the end of 2007, although it expected a “sharp rise” in 2008.
Countrywide Home Loans dominates December US CDS trading
Credit default swaps (CDS) for the banking and financial services sectors dominated the most active trading in the US over December, led by Countrywide Home Loans, Lehman Brothers, CIT Group, Merrill Lynch and SLM Corp, according to interdealer broker…
Markit adds AJ tranche to CMBX indexes
London-based data provider Markit added a new tranche, the AJ tranche, to the off-the-run Markit CMBX indices on January 4.
Commodities trading volumes boom in 2007
Trading volumes of commodities on the Chicago Mercantile Exchange’s Globex platform, consisting of New York Mercantile Exchange (Nymex) energy contracts and Comex metals, reached record levels in 2007, as did annual volumes at Atlanta-based…
Hunt leaves as State Street takes subprime charge
William Hunt, the president and chief executive of State Street Global Advisors (SSGA), has resigned, as the hedge fund’s Boston-based parent company announced it would take a $279 million pre-tax charge for costs stemming from US subprime mortgages.
UOB strengthens trading desk in Singapore
Singapore’s United Overseas Bank (UOB) has made several senior trading hires, including a new head of market-making and trading. Samuel Lin joined on December 3 from local rival OCBC Bank, where he was head of financial derivatives for group treasury.