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UOB strengthens trading desk in Singapore
Singapore’s United Overseas Bank (UOB) has made several senior trading hires, including a new head of market-making and trading. Samuel Lin joined on December 3 from local rival OCBC Bank, where he was head of financial derivatives for group treasury.
London Scottish short on capital
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Société Générale and Calyon launch new brokerage
Société Générale and Calyon have merged the brokerage activities of their respective subsidiaries, Fimat and Calyon Financial, and launched a new brokerage house called Newedge, based in Paris. The two banks will equally control Newedge and have…
Q4 writedown estimates raised for Citi, Merrill and JP Morgan
Citi, Merrill Lynch and JP Morgan could see writedowns totalling $33.6 billion relating to collateralised debt obligations (CDOs) over the fourth quarter, according to a report by Goldman Sachs on American firms, published on December 26.
Plan for the worst, says regulator
The UK Financial Services Authority has warned lenders to prepare in case the funding markets stay shut
Industry sets template for loan modifications
A framework sponsored by the US administration to soften the impact of subprime resets provides comfort for servicers and clarity for investors
European buyside survey provides encouragement
A poll of investors in European asset-backed securities suggests demand will be reduced but not extinguished for the year ahead
Mixed reaction to central bank liquidity push
Central banks acting in concert eased liquidity troubles at the end of 2007 but a more fundamental improvement in money markets will be harder to achieve, say analysts
Basel, CEBS
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