News
Apollo poaches distressed debt team from Credit Suisse
New York-based private equity firm Apollo Management has poached two distressed debt bankers from Credit Suisse’s leveraged finance department.
IPD: Launch failure for property sector derivatives
Growth is levelling off in the UK property derivatives market, with disappointingly few sector trades, according to figures released by the Investment Property Forum (IPF) in London today.
OTC property derivatives to launch in Australia
A deal paving the way for an Australian over-the-counter property derivatives market was announced yesterday between RP Data, Rismark International and GFI.
Deutsche Bank names head of complex risk syndication
Deutsche Bank has named Martin Fisch as head of complex risk syndication, a newly created post in the global markets division.
TXU agrees to record $45 billion buyout
The board of TXU Corp, the Dallas-based energy company, has agreed to a $45 billion takeover by private equity firms Kohlberg Kravis Roberts, Texas Pacific Group and Goldman Sachs, the investment bank.
Islamic bonds widen appeal
Demand for Islamic bonds is extending beyond the original customer base, with growing issuance and strong secondary trading among non-Muslims.
FIA opposes CME-CBOT merger
The Washington-based Futures Industry Association (FIA) has opposed the proposed merger of the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) on the grounds that it would reduce competition among US exchanges.
EDHEC: fraud is biggest hedge fund risk
More than three quarters of all hedge fund defaults are due to fraud or misrepresentation, according to a study by economists at the EDHEC business school in Nice.
JP Morgan hires EMEA equity marketing head
Adrian Valenzuela will join JP Morgan in London in May, as head of equity derivatives flow marketing for Europe, the Middle East and Africa.
No need for more hedge fund regulation, US group says
Despite its growth over the last seven years, there is no need to improve regulation of the private investment industry, a US government working group reported yesterday.
Dresdner poaches equity derivatives sales team from Wachovia
Dresdner Kleinwort has hired a team of equity derivatives sales staff from Wachovia to expand its US equity derivatives operation.
DME announces launch date
The Dubai Mercantile Exchange (DME), the Middle East’s first energy futures exchange, will officially launch on May 1.
Moody’s: credit cycle at tipping point
The rate of defaults on speculative-grade corporate debt was at its lowest level for two decades in 2006, but will double in 2007, according to New York-based rating agency Moody’s.
Dresdner hires head of distribution
Dresdner Kleinwort, the investment banking arm of Dresdner Bank, has appointed Stefan Guetter as head of global distribution, replacing Garrett Curran, who has become head of global finance.
DME announces launch date
The Dubai Mercantile Exchange (DME), the Middle East’s first energy futures exchange, has announced that it will officially launch on 1 May.
US property slowdown could increase risk for CDOs
Decelerating house price inflation and competition among commercial mortgage lenders could hurt US structured credit products, according to a Dresdner Kleinwort report.
Pension funds at risk from currency fluctuations
State Street Global Advisors (SSgA), the investment management arm of New York-based State Street Corporation, has warned UK institutional investors they are overexposed to carry trades and to currency-fluctuation risk in their portfolios.