News
Lehman appoints commodities head in Asia
Lehman Brothers has hired Arun Murthy as head of commodities trading for Asia.
Icap appoints McClumpha as Asia-Pacific deputy head
Interdealer broker Icap has named Don McClumpha deputy chief executive for the Asia-Pacific region, based in Singapore.
Donohue: further exchange consolidation ahead
The global exchange industry will see yet more consolidation during 2008, believes Craig Donohue, chief executive of the CME Group in Chicago.
More subprime writedowns at Morgan Stanley
Morgan Stanley has taken a total of $9.4 billion in mortgage-related writedowns in the fourth quarter, causing it to lose $3.6 billion, it announced today.
AXA IM names new fixed-income head
Theodora Zemek has joined AXA Investment Managers as global head of fixed income.
Italease to launch securitisation repo
Troubled Milanese leasing specialist Banca Italease plans to securitise an €800 million portion of its lease portfolio, structured with ABN Amro.
New year brings funding challenges for SIVs
The pressure on structured investment vehicles (SIVs) will grow in the new year as their medium-term notes come up for renewal, investment bank Dresdner Kleinwort has warned.
Merrill Lynch names new CFO
Nelson Chai has been appointed as Merrill Lynch's chief financial officer.
SG CIB promotes Mianné
Société Générale Corporate and Investment Bank has named Christophe Mianné head of its market activities, covering equity, derivatives, fixed income, currency and commodities.
Goldman Sachs launches tradeable mortality index
Goldman Sachs has launched a tradeable mortality index based on a pool of US senior citizens.
Goldman $3.2bn profit masks $600m subprime writedown
Goldman Sachs has posted impressive returns for the last quarter of 2007, but has confirmed losses of around $600 million in its mortgage business.
ECB takes further steps to improve liquidity
The European Central Bank (ECB) has boosted levels of liquidity over the Christmas period by lending €348.6 billion in a main refinancing operation that matures on January 4.
RBS to subsume ABN Amro wholesale brand
Royal Bank of Scotland, which teamed up with Benelux bancassurer Fortis and Spain’s Santander to buy Dutch bank ABN Amro for €70 billion in October, will do away with the ABN Amro brand in the wholesale banking arena. The merged division will be run in…
EEX and Powernext agree to merge
The board of Germany’s European Energy Exchange (EEX) has agreed plans for the exchange to pool its power spot and futures markets with France’s Powernext exchange, laying the foundations for a pan-European energy exchange.
Citi bails out struggling SIVs
Citigroup has bailed out seven of its own structured investment vehicles (SIVs), taking their $49 billion in non-cash assets onto its own balance sheet, as they continue to reduce in size.
Central banks offer $20bn auctions to revive liquidity
The Federal Reserve, the European Central Bank (ECB) and the central banks of the UK, Canada and Switzerland have agreed upon a series of auctions to provide billions for credit-starved financial institutions.
Banks not ready for Sepa, says report
Daily news headlines
Renewables set to lose out as Energy Bill stalls in Senate
US Republicans have forced Democrat supporters of the Energy bill to drop a controversial tax provision that would have cut tax breaks to major oil companies in an effort to boost spending on renewables.