News
WestLB boosts credit derivatives sales
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.
BoNY steps up hedge fund transparency effort
The Bank of New York has stepped up its efforts to offer hedge funds increased transparency in Europe, with the hire of David Aldrich as head of securities industry banking. Aldrich will assume responsibility for relationship management and sales to…
Regulators tangle with EL exclusion criteria in op risk
Apparently, the expected loss/unexpected loss (EL/UL) debate isn't restricted to the credit risk arena.
Nomura analyst sceptical about Nera’s ratings study
Research by National Economic Research Associates' (Nera) economic consulting division comparing different rating agencies’ rating processes has been described as “disappointingly inconclusive” by Mark Adelson, a New York-based securitisation and asset…
Former head of currency forwards returns to Bank One
Bank One’s former head of currency forwards, Paul Smith, will rejoin the company in London tomorrow (November 11) as a senior euro forwards trader, a senior official told RiskNews’ sister publication FX Week .
UBS hires Latin American trading head
Ron Goldshmidt has joined UBS's fixed income, rates and currencies division at Stamford, Connecticut, in the newly created position of head of Latin American trading.
Summit Systems names prominent hires in New York
Software vendor Summit Systems has made a number of appointments for its New York office. The hires include the return of co-founder Kathy Perrotte to the vendor after a one-year sabbatical.
US banks increase investments in service and risk management technology, says report
US banks are increasing their spending on service and risk management technology, a new survey by the American Bankers Association (ABA) and TowerGroup has found.
Associations to perform economic capital model convergence study
According to the response to the US's advance notice of proposed rulemaking (ANPR), written jointly by the Bond Market Association (BMA) and the International Swaps and Derivatives Association, a number of trade associations are organising a study on the…
Technology news
Oil
CBOT chief again hits out at Eurex US
Chicago Board of Trade (CBOT) chairman Charles Carey urged the Commodity Futures Trading Commission to conduct a full and careful review of the application by Eurex to establish a US subsidiary yesterday. Carey’s comments are the latest in an ongoing…
Singapore’s OCBC signs technology deal with FSS
Oversea-Chinese Banking Corporation (OCBC), the Singapore-based financial services group, has entered an agreement with Financial Software Systems (FSS) for its foreign exchange margin trading business.
Industry veteran quits CFTC
Jane Kang Thorpe, director of the division of clearing and oversight of the Commodity Futures Trading Commission (CFTC), will leave the US regulator later this month. She leaves to take up a post as general counsel for the Dubai Regional Exchange (DRI).
US legislators question Basel II effectiveness
The Financial Services Committee of the US Congress said today it is not convinced that the current proposals under Basel II will be able to reflect modern risk management practices and eliminate regulatory arbitrage opportunities.
Energy swaps
Oil