JP Morgan
Merrill Lynch nabs 23 derivatives marketers from JP Morgan
Merrill Lynch’s raid on JP Morgan Chase’s derivatives marketing unit has resulted in 23 derivatives marketers joining the US securities dealer. The move represents one of the largest derivatives team defections seen in Europe and appears to contradict JP…
A place on the grid
A growing number of banks have implemented grid technology for their risk management and derivatives trading businesses, allowing them to borrow spare capacity from dormant computers to process complex tasks in a fraction of the time. By Clive Davidson
CDS on ABS set for growth as documentation and sentiment improves
Asset-backed security (ABS) derivatives look set to gain increased popularity, firstly following the release of a template for ABS credit default swap (CDS) trading by the International Swaps and Derivatives Association, and second due to various bankers…
Fixed income specialists quit JP Morgan for BoA
Bank of America has bolstered its European commercial paper (ECP) business in London with five senior hires, all from JP Morgan Chase.
Barclays hires Meli as head of US structured credit
Barclays Capital has hired Jeff Meli as director and head of US structured credit and quantitative strategy in New York .
Newly promoted Polverino quits JP Morgan for Merrill Lynch
Antonio Polverino, whom JP Morgan appointed as head of corporate derivatives marketing in March, has jumped ship to take a similar position at Merrill Lynch.
Deutsche promotes Javid to head emerging market structuring
Deutsche Bank has promoted Sajid Javid to the position of global head of emerging market structuring. He was previously head of the emerging markets structuring group for Europe, the Middle East and Africa.
iTraxx credit-linked notes launched
International Index Company, the Frankfurt-based firm that administers the European and Asian iTraxx credit derivative indexes, has launched three five-year iTraxx credit-linked notes.
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…
Lehman boosts European equity derivatives unit
Lehman Brothers has hired three former JP Morgan equity derivatives specialists to beef up its European business.
Rodriguez quits JP Morgan interest rate sales team
Tracey Rodriguez has resigned from JP Morgan Chase, where she worked as a senior salesperson in London, covering interest rate products and reporting to desk head Sikander Ilyas.
JP Morgan and SunGard collaborate on collateral management system
JP Morgan Chase and SunGard have teamed up to create a collateral management system based on SunGard’s Adaptiv product for over-the-counter derivatives. Aimed at smaller end-users, it will allow existing JP Morgan clients, such as corporate treasurers,…
JP Morgan rationalises marketing units in credit and rates
JP Morgan Chase has rationalised sales and marketing in its European credit and rates business, according to a internal memo by Tony Best, the London-based head of European investor client management, on April 1.
JP Morgan boosts gas and energy team
JP Morgan has hired George Taylor as both global head of gas and power trading and US head of gas and power, having spent five years at Morgan Stanley. He reports to David Kitson, head of global energy.
Lehman continues equity derivatives hiring spree
Lehman Brothers has appointed Arnaud Apffel as co-head of European equity corporate derivatives, alongside Marco Di Prima in London. He will report to Philip Lynch, head of global finance in Europe and David Bizer, co-head of equity sales in Europe.
Creditex, Markit and major dealers launch European credit fixings
Creditex, Markit and seven credit derivatives dealers today launched 'tradeable credit fixings' in what the backers hailed as a "milestone" in the development of the credit derivatives market.
Goldman poaches JP Morgan equity marketing team
Goldman Sachs has hired Salvatore Di Stasi from JP Morgan Chase as a managing director and to head its European equity derivatives group.
JP Morgan reorganisation continues
JP Morgan has promoted Antonio Polverino to head of corporate derivatives marketing in credit, rates and equities. He previously held a similar role, but covered credit and rates only.
BlueBay launches emerging market CDO
London-based BlueBay Asset Management has launched a $350 million emerging market synthetic collateralised debt obligation (CDO).
JP Morgan reorganises credit derivatives business
JP Morgan has reorganised its structured credit business following a number of high level departures.
Credit managers hope for new accounting blueprint
Mark-to-market accounting has frustrated credit portfolio managers at the largest international banks. It’s made their loan books more volatile and their derivatives hedges less efficient. But accounting standards setters may be ready to review the rules…
Credit risk stress tests need more work, says BIS
Leading banks have yet to develop a solid framework for credit risk stress tests that deals with all the likely effects stress events would have on their businesses, according to the latest report by the Bank for International Settlements (BIS).
JP Morgan exotics exodus continues
JP Morgan Chase, which lost its head of exotics Chris French this month, has suffered two further defections from its team that won Risk’s ‘structured product award for innovation’ last year.
JP Morgan CDO marketer departs
Paul Horvath, co-head of European collateralised debt obligation marketing (CDO) at JP Morgan, has left the firm. The remaining CDO marketing co-head, Olrich Masek, will assume Horvath’s responsibilities. Horvath is thought to be joining Merrill Lynch in…