Commerzbank
DrKW adds to sales and marketing in Singapore
Dresdner Kleinwort Wasserstein (DrKW) has hired Dahai Wang as a vice-president in its sales and marketing team in Singapore.
DrKW appoints two to short-term equity products group
Dresdner Kleinwort Wasserstein (DrKW) has made two appointments within its short-term equity products group.
Commerzbank appoints Shottes to trade credit derivatives
Commerzbank Securities has appointed Paul Shottes to its credit derivatives group in New York.
DrKW appoints new global head of equity products
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Dresdner Bank, has appointed David Wenman as global head of equity products. Wenman moves from Easy2Trade, the electronic online broker, where he was chief executive.
German mortgage consortium to manage risk with Fermat
German mortgage bank Eurohypo has bought Paris-based Fermat’s risk management suite for regulatory risk, credit risk and asset and liability management.
Roundtable > Operational risk quantification: a discipline at a crossroads
Operational Risk magazine held its first European roundtable during Risk magazine's annual European congress, in Paris, on April 9.
TriOptima terminates €420 billion in rate swaps
The delayed first run of TriOptima’s swap tear-up service, TriReduce, eliminated 7,880 euro-denominated interest rate swaps with a notional value of €420 billion – or about a fifth of the notional value of the credit derivatives market.
Banks set to define op risk modelling for regulators at May conference
NEW YORK - The Basel Committee on Banking Supervision's Risk Management Group is organising a conference in New York at the end of May designed to help the international regulatory body understand current bank op risk modelling practices and inform the…
Risk Europe 2003: Still no "best practice" for integrating economic and regulatory capital, says Buerger
There is still no "best practice" approach to implementing an effective risk management framework that integrates economic and regulatory capital requirements, Peter Buerger, head of group risk control at Germany's Commerzbank, told delegates attending…
Dresdner hires marketer for Korea market
German investment bank Dresdner Kleinwort Wasserstein has hired Charles Jo as director and marketer in its capital markets sales and marketing team.
Risk Europe 2003: Still no “best practice” for integrating economic and regulatory capital, says Buerger
There is still no “best practice” approach to implementing an effective risk management framework that integrates economic and regulatory capital requirements, Peter Buerger, head of group risk control at Germany’s Commerzbank, told delegates attending…
European credit spreads remain tight
Spreads in the credit derivatives market continued to stay tight in Europe this week, based on expectations of a swift war in Iraq. London-based traders said overall liquidity has remained very thin since the official start of the conflict on Wednesday.
AIG hires ex-Commerzbank options dealers in London
Former Commerzbank foreign exchange options dealers Behnouche Mostachfi and Damian Zihlman have joined AIG Trading in London. Both report to Greenwich-based global head of foreign exchange options and head of forex Donald Lee.
Equity rally prompts tightening of financial spreads
The upswing in equity prices in the second half of the week has prompted a contraction in credit default swap spreads for European banks and insurance companies. But German names, including HVB, were still trading at wider levels for subordinate…
Lehman’s Coym replaces Fischer as Eurex chairman
The exchange council of Eurex Deutschland has elected Peter Coym as its new chairman to replace Leonhard Fischer, who resigned the post when he left Dresdner Bank on October 31 last year.
Korea’s Koram Bank joins SuperDerivatives
Korea’s Koram Bank, a joint venture established by a consortium of local conglomerates, has joined SuperDerivatives, the internet-enabled currency options pricing system.
Commerzbank, IBM Mull Outsourcing Deal
FRANKFURT—In what looks like a pioneering deal, Commerzbank is working out the details of an IT outsourcing arrangement with IBM that would see the vendor take on responsibility not just for low-level infrastructure, but complete management of major…
Credit spreads tighten due to CDO upsurge
Credit default swap spreads tightened this week as the continued upswing in collateralised debt obligation (CDO) issuance pulled in offers, and limited debt-issuance reduced demand for credit protection.
Self-assessments for scorecards
In this second and final paper on the scorecard approach to operational risk, Dresdner Bank's Ulrich Anders and Michael Sanstedt discuss the logistics of preparing and implementing the self-assessment questionnaire, before discussing the advantages and…
Pension deficit concern sparks demand for default protection
Traders saw a marked increase in volumes for credit protection, following a credit watch alert by rating agency Standard & Poor’s (S&P) on 12 major European corporations earlier today. S&P today warned that the companies, including Sainsbury’s, Rolls…
Profile: Dresdner makes loss prevention a new priority
Operational risk management is a management programme, not just a modelling exercise, according to Jonathan Howitt, director of operational risk at investment bank Dresdner Kleinwort Wasserstein in London.
Dealers rebut UK covered warrants market flop claims
Leading warrants dealers in the UK have rebutted claims that the London Stock Exchange’s (LSE) new covered warrants market is a flop.
Ahead of the green game
Germany
Credit spreads widen as equity continues falling
Falling equities and the increased likelihood of conflict in Iraq continued to drive spreads wider in the credit derivatives market this week.