News
Towergroup: spending on OTC derivatives technology will reach $1.3 billion in 2011
Firms are spending more on technology to meet growth in the over-the-counter derivatives market. At the same time, there is pressure on technology firms to produce trading platforms to meet the increasing needs of broker-dealers, according to research by…
Moody’s downgrades banks after methodology U-turn
New York-based Moody’s Investors Services has downgraded the debt and deposit ratings of 44 banks after revising its new joint default analysis (JDA) methodology.
Deutsche Bank wins corporate derivatives rankings
Deutsche Bank has won this year’s Risk corporate end-user rankings, achieving the most votes overall among participating corporate clients globally. Citi and Barclays Capital came second and third, at a time of record merger and acquisition (M&A)…
Asset managers increasingly use derivatives
Traditional fund managers are increasingly using exchange-traded equity derivatives, as their investment strategies move away from long-only strategies in favour of absolute return, portable alpha and yield enhancement.
Lehman hires for fixed-income expansion in Italy
Lehman Brothers has appointed Corrado Giovanelli to the new position of head of interest-rate product distribution for Italy, in an expansion of its fixed-income operations in the country.
RBS appoints former Dresdner derivatives head
Matteo Mazzocchi, former global head of equity and credit derivatives at Dresdner Kleinwort, has moved to Royal Bank of Scotland (RBS).
Klein returns to Deutsche Asset Management
Frank Klein has joined Deutsche Asset Management (DeAM) as its global head of institutional product management and development. He will be based in Frankfurt and report to Roelfien Kuijpers, New York-based global head of institutional business.
Webster Financial expands use of BancWare
Webster expands use of SunGard's BancWare.
Bear hires Sun to lead Asia structured finance team
George Sun has joined Bear Stearns as head of structured credit marketing, Asia, in Hong Kong. He started his new position in March.
Probitas Partners hires new principal
Adam Frieman has joined California-based liquidity and portfolio management services firm Probitas Partners as a principal.
ABN Amro makes loan appointments
Dutch bank ABN Amro has appointed three new staff to its loan syndicate, sales and trading team.
AXA IM appoints UK head
Paris-based Axa Investment Managers (Axa IM) has appointed Martin Hall as head of Axa IM UK, effective from June. He will be based in London and report to Nathalie Boullefort-Fulconis, global head of sales, marketing and client services at Axa IM.
Eurex to launch UK equity futures
Frankfurt-based derivatives exchange Eurex plans to list 17 sterling-denominated single-stock futures in May.
US employers reduce employee stock options
US companies are reducing stock option plans in favour of other types of compensation, according to Connecticut-based financial research firm Greenwich Associates.
Exchange-traded credit derivatives disappoint
The world’s first exchange-traded credit derivatives, which were listed by Frankfurt-based Eurex on March 27, have posted lacklustre trading volumes, with only one major dealer making markets in them.