Another CDO head leaves Calyon

The bank would not comment as to why he left. Two other senior staff in the bank’s CDO team left in September: Loic Fery, previously global head of credit and CDO markets, and Zain Abdullah, previously head of credit markets and CDOs Americas. In the same month, the bank discovered a rogue credit derivatives index trade, which was estimated to knock £250 million from third-quarter earnings.

While Bremond departs, Calyon has appointed Pierre Trecourt as global head of credit structuring. He will be based in London, where he will report to Benjamin Jacquard, global head of structured credit markets. Trecourt was previously in charge of Calyon’s structured credit activities for Asia excluding Japan, and was based in Hong Kong.

See also: Rating agencies unmoved by Calyon's rogue trade
Calyon loses senior members of credit derivatives team
Senior duo leaves Calyon after €250 million rogue trade