News
Merrill fires two executives after subprime crisis
Merrill Lynch has fired two executives in the wake of the subprime mortgage crisis, which could see the bank suffer significant losses.
Firms acknowledge but ignore GRC benefits
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CEBS defends Basel II as “a step forward”
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Nazareth to leave SEC
Annette Nazareth, one of the commissioners of the US Securities and Exchange Commission, is to leave after nine years' service.
Moody’s reshuffles management after subprime criticism
Moody’s Investors Service has announced three senior management appointments as it faces criticism over its role in the US subprime crisis.
BarCap names head of corporate FX sales for Americas
Barclays Capital has appointed Ade Odunsi as head of corporate foreign exchange sales for the Americas, based in New York.
Financials first CPDOs to crumble
The spotlight is on the constant-proportion debt obligation (CPDO) market after widening credit spreads forced UBS to restructure several tranches of its Tyger financial CPDO, which is based on bespoke portfolios of credit default swaps.
Rating agencies defend subprime role before Congress
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Credit Suisse and Citi expect profit losses for Q3
Credit Suisse Group is the latest bank to warn of a third-quarter profit loss. It reported its investment banking and asset management divisions’ profits have been adversely affected by recent market events.