UBS
New US online options exchange announces investors
The Boston Options Exchange (BOX), a venture of the Boston Stock Exchange, has announced investment stakes by Credit Suisse First Boston, JP Morgan Chase, Salomon Smith Barney and UBS Warburg. The size of the investments was undisclosed.
Market mulls forex options benchmark
Standard foreign exchange options benchmark prices could be the answer to inaccuracies in marking exposures to market, but whether the move is possible is a matter for debate, according to senior options market participants.
International banks step-up German fixed-income derivatives coverage
Deregulation of the German insurance market is attracting the world's top investment banks to expand fixed-income derivatives operations in Frankfurt.
UBS Asset Management appoints head of Asia-Pacific
UBS Asset Management has appointed Kai Sotorp as head of Asia-Pacific, overseeing all aspects of the firm's business in the region.
UBS hires Asian credit trader
UBS Warburg has bolstered its Asian credit derivatives team, with the appointment of Anders Haagan as director of credit derivatives trading in Singapore.
Isda sees Basel II cross-border operation as major concern
LONDON - The biggest concern arising from the complex Basel II bank capital accord is about how it will operate for banks across national borders, Tanya Castell, London-based head of investment bank UBS Warburg’s risk policy group, said today.
Initial flurry then calm after French agency swap postponement
The European interest rate swaps market reacted relatively calmly to the decision late yesterday by the French debt management agency, Agence France Trésor’s decision to suspend its swaps programme. European swap spreads over underlying treasuries of the…
UBS Warburg poaches Merrill Lynch veteran in Asia
UBS Warburg has snared Christopher Lee, a seven-year veteran of Merrill Lynch, to head it intermediary desk for equity risk management products.
€15bn floods bill unlikely to further hurt insurance sector
Insurers and reinsurers are unlikely to face significant financial difficulties following serious flooding in central Europe that has caused damage worth around €15 billion, according to research by UBS Warburg.
New credit structures appear in Asia
A handful of banks have begun marketing increasingly complex credit structures to yield hungry institutional investors in Asia, amid low interest rates and under-performing stock markets around the region.
Equity slump sees upsurge in long-dated hedging
The European interest rate swaps market has seen a return of the long-dated hedging programmes that first surfaced at the end of last year, according to traders at investment banks.
UBS Warburg unveils North American interest rate and FX hires
UBS Warburg has hired Glenn Taitz and William Ludington as executive directors in its North American interest rate and foreign exchange divisions. Based in Stamford, Connecticut, the pair will report to Michael Ice, head of marketing and structuring of…
DrKW sets up prime brokerage service
Dresdner Kleinwort Wasserstein (DrKW) has launched a prime brokerage business, offering financing and support services to hedge funds and alternative investment funds.
Correction: UBS says no figure available for derivatives staff cuts in London
UBS Warburg, the investment banking arm of Switzerland’s UBS, which is axing 10% of its investment banking staff in London, said it could provide no overall figure for its cuts in derivatives staff numbers today.
UBS Warburg to axe 10% of London derivatives workforce
UBS Warburg, the investment banking arm of Switzerland's UBS, said it plans to cut 10% of its derivatives workforce in London. The bank blamed the poor economic climate for the cuts, which are part of a wider cost-cutting exercise impacting its London…
ABN Amro launches Asian absolute return group
ABN Amro has hired Richard Johnson and David Kwan as directors to create a new Asian absolute return strategy group in Hong Kong.
UBS increases use of credit derivatives
Swiss investment bank UBS Warburg hedged around 30% of its corporate and institutional lending in 2001 using credit derivatives and other credit instruments. The inceased focus on credit risk follows the record number of global corporate defaults in 2001.
Asset managers run for cover
UK investment firms are facing increasing risk management pressures, thanks to new regulatory initiatives, legal challenges and a shift in operating environment. Coping will require a major investment in technology infrastructure – especially in the…
UBS Warburg snares Merrill equity risk structurers
UBS Warburg has snared Min Park and Chang Sik Cin from Merrill Lynch to boost its equity derivatives risk services offered to institutional investors, corporate clients, and high-net-worth individuals.
Little change expected for yen in run-up to fiscal year-end
Japan's former vice-minister of finance for international affairs, Eisuke Sakakibara, aka 'Mr Yen', has suggested the yen should ‘ideally’ depreciate to the 160-180 range against the dollar, further fuelling speculation that the yen could decline sharply…
Warburg reshuffles derivatives team and launches UBSWenergy.com
UBS Warburg has named Jonkee Hong as its new head of global emerging market derivatives. Hong, now based in Connecticut after leaving his post as head of Asian derivatives, reports to Raphael Gys, global head of fixed-income derivatives marketing and…
Renewed FX interest by funds offers prime brokerage fillip
The return of funds to trading forex has prompted a boom in the provision of prime brokerage services. Banks such as Bank of America are hiring more staff to cope with the increased demand, while others, like UBS Warburg, are building online prime…
Ice to head US rates marketing at UBS Warburg
UBS Warburg, the investment banking arm of Switzerland’s UBS, has hired Michael Ice to head its interest rate derivatives marketing and structuring unit in the United States.
UBS in bid to tap retail interest in equity-linked note
UBS Warburg, the investment banking unit of Switzerland's UBS, is negotiating with Hong Kong Exchanges and Clearing to list an equity-linked note released in Hong Kong in November. The move is an effort to generate retail investor interest in the…