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JP Morgan eyes Bear Energy prize
JP Morgan's planned acquisition of Bear Stearns looks set to bring it closer to rivalling the biggest energy investment banks, Goldman Sachs and Morgan Stanley, writes David Watkins
Market split over Green Exchange
The Green Exchange launched its crusade into the environmental trading markets last month, but it will have a battle on its hands to gain critical liquidity, writes Andrew Holt
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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.