Credit Suisse
CSFB buys more German NPLs
CSFB has bought a €300 million loan portfolio from the German mortgage bank Deutsche Genossenschafts-Hypothekenbank (DG HYP).
Another chance for enterprise-wide risk management
Are operational risk departments ready to take on the function of enterprise-wide risk management? Choongo Moonga reports
Major dealers issue joint letter to Fed on credit derivatives
The New York Federal Reserve meeting with 14 major dealers on September 15 appears to have succeeded in coercing the industry into taking more concerted action to tackle the mounting problems in credit derivatives confirmation backlogs. Following the…
FASB likely to announce fair-value pensions project in October
The US Financial Accounting Standards Board (FASB) will consider a proposal from its staff for the overhaul of pension accounting in October. Some analysts predict that it will subsequently add to its agenda a project to require mark-to-market accounting…
Isda’s ‘novation protocol’ aims to tackle derivatives backlogs
The world's major derivatives dealers have signed up to the International Swaps and Derivatives Association’s long-awaited ‘Novation Protocol’, which seeks to facilitate the transfer of existing trades to third parties.
Tradition offers property derivatives
Tradition Financial Services (TFS) has become the latest inter-broker to enter the property derivatives fray.
RBS raids Shinsei to establish leveraged finance business in Tokyo
Royal Bank of Scotland (RBS) has poached an eight-strong team from Shinsei Bank in Tokyo to extend its leveraged finance business into Asia.
Deutsche Bank strengthens forex structuring unit
Deutsche Bank has hired two foreign exchange structurers to work in its client strategy and solutions (CSS) group in London.
New cash CDO head at CSFB
Credit Suisse First Boston has promoted Greg Richter to co-head of its New York cash collateralised debt obligation (CDO) business, part of a wider restructuring of its CDO operations.
Barclays hires head of equity exotics trading
Barclays Capital has hired Nick Nassuphis as head of equity exotic and structured product derivative trading.
Market Axess and DTCC team up to offer CDS index trading system
Electronic bond trading platform company MarketAxess has teamed up with the Depository Trust & Clearing Corporation's (DTCC) and 11 global dealers to create an electronic client-to-dealer trading platform for credit default swap (CDS) indexes. The CDS…
HSBC poaches CSFB fixed income sextet
HSBC has hired six sales and trading staff from Credit Suisse First Boston (CSFB), including Patrick Haskell, CSFB’s former head of US interest rate products. Haskell joins HSBC Securities as a managing director and head of its rates business in North…
CSFB launches Taiwan broking business
Credit Suisse First Boston (CSFB) has launched its derivatives broking business in Taiwan. The bank will trade futures and options listed on the Taiwan Futures Exchange (Taifex) for qualified foreign and domestic clients.
From Basel II to Basel III
Financial institutions face major challenges in modelling credit portfolio risk, particularly in the field of CDOs. Walter Schulte-Herbrüggen and Gernot Becker argue that the main challenge will be in model testing, due to the increasingly customised…
BNP makes European fixed-income hires
French banking group BNP Paribas has announced two appointments in its fixed-income business servicing German, Austrian and Swiss corporates.
CSFB appoints derivatives sales director for Germany
Credit Suisse First Boston (CSFB) has hired Konstantin Krebs as a director of fixed-income derivatives sales.
Merrill Lynch to offer algorithmic engine to buy-side
Merrill Lynch is slated to join a growing array of major sell-side firms that will allow third-party access to their algorithmic trading engines.
ABN Amro wins China derivatives licence
ABN Amro last week joined the elite group of foreign banks authorised to trade foreign exchange derivatives in China after winning a licence from regulator the China Banking Regulatory Commission, reports RiskNews’ sister publication, FX Week .
Chinese regulator extends derivatives transition period
The China Banking Regulatory Commission (CBRC) has extended the transition period for its new derivatives licensing regime, giving banks an extra three months to get licences in place that will allow them to trade derivatives onshore.
CSFB snares technical accounting director
Credit Suisse First Boston has hired Melissa Allen from BNP Paribas as a director within the European financial control department.
CSFB gets OK for derivatives in China
The China Banking Regulatory Commission (CBRC) authorised Credit Suisse First Boston (CSFB) to launch a financial derivatives business in China last week, reports RiskNews’ sister publication, FX Week .
BNP Paribas snares Chicago sales head
BNP Paribas has hired Matthew Schultheis as director and head of sales for its Chicago office.
Gupta to co-head credit trading at RBS
Sanjeev Gupta, formerly a managing director for credit derivatives at Credit Suisse First Boston (CSFB), has come out of retirement to help spearhead the build-up of Royal Bank of Scotland’s (RBS) integrated credit business in the US.
BNP Paribas hires forex derivatives trader
Carl Nabar has joined French bank BNP Paribas in New York as a senior foreign exchange derivatives trader.