Lehman Brothers

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…

Lehman takes a proprietary route to STP integration

US investment bank Lehman Brothers will rely on proprietary technology rather than industry standards to achieve straight-through processing (STP), Patrick Maher, Lehman vice-president of operations technology told delegates at Waters Magazine’s 2002…

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…

Lehman appoints European equity derivatives head

Lehman Brothers has hired Neil McDonald to head up its European equity derivatives flow trading business. McDonald joins from Morgan Stanley where he worked for five years as a senior equity derivatives trader.

Lehman boosts fixed-income team in Tokyo

Lehman Brothers has made two new hires to its fixed-income derivatives team in Tokyo. The US investment bank named Jeremy Martin as head swap trader, and Atsushi Ikeno as senior structurer and marketer. They both report to Satu Parikh, Lehman's head of…

SAN Storm

Disaster recovery issues have thrust network-based storage into the spotlight. Lehman Brothers reveals the complex layers of storage systems that allowed business to continue after last year's World Trade Center attacks.

Lehman snaps up CSFB barrier options team

US investment bank Lehman Brothers has lured a 15-person equity barrier options team from rival Credit Suisse First Boston (CSFB) as part of its bid to boost its equity derivatives operations.

Op risk modelling evolves

Operational risk is devilishly difficult to model, but dealers and software vendors are making headway. Automated op risk reporting, profiling and sophisticated operational value-at-risk (VAR) modelling are finally beginning to catch-on in banks.

Asian banks face hedging threat

Hong Kong - The Basel II bank capital adequacy accord could stop Asia's banks from hedging risk, resulting in their being shut out of the global banking system entirely, says Paul Sheehan, Hong Kong-based co-head of Asian bank research at US investment…

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