People
Consolidation fever
Utilities
Wotowicz says adieu to European HY
People news
Still hungry for yield
Japanese investors
High-yield survival
Profile
BBVA senior officials investigated
LOSS DATABASE
EU bank regulation debate intensifies
BASLE II UPDATE
UK central banker warns against half-baked contingency plans
DISASTER RECOVERY
Losses and lawsuits
LOSS DATABASE
Nordea snares Andreasen and Bangert to boost exotics
Nordea Markets, the investment banking arm of pan-Nordic bank Nordea, has made two key hires as part of its bid to boost complex derivatives activities.
The opportunist
In Barclays Capital, Bob Diamond has created a business that can compete with the global bulge bracket
Static data moves forward
Firms tackling high-speed and information-intensive tasks such as straight-through processing or risk management without accurate instrument and counterparty reference data may be taking enormous operational and credit risks. Clive Davidson reports on…
Job moves
QUOTE OF THE MONTH: - “The perception of government support may induce the counterparties of government-sponsored enterprises to apply less vigorously some of the risk controls that they apply to manage their over-the-counter derivatives exposures”…
Dealers debate regime change in US interest rate volatility
Has the US interest rate options market entered a new period of sustained higher implied volatility? Deutsche Bank says yes, but other leading dollar interest rate derivatives dealers say it is too early to tell. Mortgage investors and options writers…
Mixed outlook for derivatives staff
After a disappointing 2001, the job market for derivatives specialists looks set to rebound this year in certain areas, while other areas remain stagnant or face even further declines. Gallagher Polyn identifies the hot spots and those areas to avoid in…
Retail product design innovations
Retail investors the world over are looking for alternatives to the faltering stock and fixed-income markets. Derivatives dealers looking to tap this demand are rolling out new products and revising old ones for the retail audience. John Ferry and Navroz…
BNP boosts Asia-Pacific fixed-income derivatives team
French bank BNP Paribas has made three new hires to its Asia-Pacific interest rate derivatives trading team in Singapore.
FASB names Robert Herz new chairman
Robert Herz, a senior partner with PricewaterhouseCoopers in New York, has been named as the new chairman of the US Financial Accounting Standards Board (FASB), the body responsible for derivatives Financial Accounting Standard 133.
Volcker challenges the benefits of financial engineering
Paul Volcker, US Federal Reserve chairman between 1979 and 1987 and present chair of the Independent Oversight Board for embattled Enron auditor Arthur Andersen, has said he is "ambivalent" about the value of financial engineering to the US economy.
LSE predicts UK equity derivatives surge
Clara Furse, chief executive of the London Stock Exchange (LSE), today warned that stamp duty on UK share trading could increasingly damage London’s competitive advantage in international financial markets and thereby reduce the likelihood of the UK…