Calyon loses senior members of credit derivatives team

Two of Calyon's most senior bankers have departed following the discovery of a rogue credit derivatives index trade last month in the firm's New York office (see page 10). Loic Fery, global head of credit and collateralised debt obligation (CDO) markets, and Zain Abdullah, head of credit markets and CDOs Americas, are no longer with the bank. At time of going to press, Risk learnt that the departure of two additional senior managers from the credit and fixed-income groups is imminent. Calyon