Bear Stearns

Wachovia expands structured credit team

Wachovia Securities, the corporate and investment banking arm of Charlotte-based financial services company Wachovia Corporation, has recruited five people to work within the structured credit products group.

Bear Stearns joins rush to sign with Mark-it

US investment bank Bear Stearns has signed an agreement to use data supplied by UK credit data provider Mark-It Partners. It is the latest in a stream of major financial institutions to sign up for the service.

Bear Stearns adds CDO evaluator to Pacre

Bear Stearns has added a high-yield collateralised debt obligation (CDO) pricing model to its price-adjusted credit risk evaluator (Pacre) product. The model is designed to calculate credit-adjusted spreads on individual CDO tranches.

More power to the banks

Banks now have greater freedom to participate in derivatives markets based on physical commodities thanks to two recent ruling by US regulators. As a result, the balance of power looks set to shift from Houston to New York. By Paul Lyon

Swaps spreads for US banks and brokers widen

The cost of protection for US banks and brokers widened following a 17% plunge in third-quarter profits at Morgan Stanley and bleak forecasts by JP Morgan Chase on Tuesday that resulted in credit downgrades by rating agencies Standard & Poor’s and Fitch…

Bear Stearns ramps up Asian equity derivatives business

Bear Stearns has hired Kin Cheung to head its equity derivatives trading business in Asia, including Japan. Cheung will report to Steve Meyer, senior managing director and head of global equity derivatives trading in New York, and Leonard Feder, senior…

DrKW hires senior credit structurer in Japan

Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Germany's Dresdner Bank, has hired Carlos Cala as director and senior structurer within its global credit derivatives team. Based in Tokyo, he will report to Rick Weinstein, London…

Feder to head Japanese derivatives for Bear Stearns

US investment bank Bear Stearns has appointed Leonard Feder to the newly created position of head of fixed income and derivatives for Japan. Feder will be responsible for the firm’s trading and risk management strategy for Japan, including corporate…

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