News
Meff adds three new single-stock futures
Spanish derivatives exchange Meff will offer three new single-stock futures on Banco Popular, tobacco company Altadis and Gas Natural.
Davies lures another ex-CSFB credit derivatives head to Bear Stearns
Mark Davies, head of global credit derivatives trading at Bear Stearns, has lured another former CSFB colleague to the US investment bank.
Merrill boosts equity teams in Asia-Pacific
US investment bank Merrill Lynch has made four new equity derivatives-related hires in Japan, two in Hong Kong and two in Australia.
Downgrade/upgrade ratio improved, Moody’s reports
The ratio of downgrades to upgrades declined sharply in 2003, although rating volatility was still above its long-term historical average, said rating agency Moody's Investors Service.
DrKW adds to credit derivatives team in Singapore
Dresdner Kleinwort Wasserstein (DrKW) has transferred Stephen Patterson, New York-based senior structurer for structured credit derivatives, to Singapore as a credit derivatives structurer.
Daiwa Securities SMBC launches first rated CDO of EDS
Japan’s Daiwa Securities SMBC has launched a CDO of equity default swaps (EDS), making it the first pure EDS portfolio to be rated globally.
AGF Alternative Asset Management selects RiskData
AGF Alternative Asset Management, the fund of hedge funds arm of French group AGF Asset Management – which is part of Allianz Dresdner Asset Management – has implemented the 'Fofix' risk management system from investment technology firm RiskData.
Merrill creates debt-equity strategic solutions group
Merrill Lynch has created a new debt-equity strategic solutions group by bringing together its equity structured derivatives and debt strategic solutions marketing efforts in Europe, the Middle East and Africa (EMEA).
Creditex launches electronic trading of CDS indexes
Credit derivatives broker Creditex has launched electronic trading of credit default swaps (CDS) indexes.
KWI appoints COO
KWI, a trading and risk management software provider to the energy industry, has appointed Christopher Fountain as its chief operating officer.
Deutsche Bank hires Zia from Merrill
Deutsche Bank has hired Zia Huque from Merrill Lynch to take charge of its European and Asia-Pacific debt syndicate.
Barclays appoints group risk director
UK banking conglomerate Barclays has appointed Robert Le Blanc as group risk director, succeeding Rob Nimmo, who is due to retire.
RBC unveils new forex structure
Royal Bank of Canada (RBC) has confirmed a new senior management structure in foreign exchange following the departure of global foreign exchange head David Gibbins, reports Risk’s sister publication, FX Week .
RBS leading UK forex race
Royal Bank of Scotland (RBS) reported a 24% increase in foreign exchange revenues for 2003, the largest year-on-year rise among UK banks reporting their results last week, reports Risk’s sister publication, FX Week .
Fannie Mae appoints Leslie Rahl to board of directors
US mortgage agency Fannie Mae has appointed Leslie Rahl to its board of directors, filling the seat Stephen Friedman vacated after he resigned to become assistant to the president for economic policy and director of the National Economic Council.
Standard Bank takes on structured product marketers
Standard Bank London (SLB) has hired Rupert Boyd from Morgan Stanley and Michele Maffei from JP Morgan Chase for its sales and structured products marketing teams.
University of California adds four to Enron lawsuit
The University of California continues to add plaintiffs to its lawsuit against Enron. RBC, Goldman Sachs and two law firms are now facing the university's wrath.
All change on the BIS op risk team
Three well-known regulatory figures will be changing places over the course of February as various secondment arrangements between the Bank for International Settlements (BIS), the Bank of England (BofE) and the Federal Reserve in the US come to an end.
ABN Amro bolsters equities franchise in Hong Kong
Dutch bank ABN Amro has boosted its equities franchise in the Asia-Pacific region with a series of appointments in sales, trading and research in Hong Kong.
Ex-Merrill Lynch energy trader pleads guilty to fraud
At 24, Daniel Gordon headed Merrill Lynch's energy trading business. He has now pleaded guilty to a $43 million fraud.
UK regulator clamps down on structured product selling
The UK Financial Services Authority (FSA) is set to finalise tough new guidelines for marketing retail structured products this month, as it moves to strengthen oversight after 2003's 'precipice' bond controversy, which saw Lloyds TSB fined almost £2…
Hatstadt leaves Merrill after less than a year
Philippe Hatstadt, a managing director and head of structured credit derivatives trading at Merrill Lynch in New York, has resigned.
ISE appoints vice-presidents
The International Securities Exchange (ISE) has elected Thomas Bendixen as vice-president of corporate initiatives and Robert Cornish as vice-president of automation and development.
Philippine National Bank installs Misys’ Opics
The Philippine National Bank (PNB) has installed Misys Wholesale Banking Systems’ treasury, derivatives and capital markets product, Opics. This should reduce risk and increase efficiency as part of improvements to its IT infrastructure.