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UBS names new global co-head of FICC
Jeffrey Mayer has been named global co-head of fixed income, currencies and commodities (FICC) at UBS.
Senior management shake-up at SG
Société Générale made several senior appointments today as part of a reshuffle of its senior management.
ALM Europe: "Stress testing must be overhauled"
The future of financial risk management will be determined by stress testing, but the methods used are in desperate need of an overhaul, delegates at the Risk ALM Europe conference in London heard today.
UBS appoints Bear departee joint global head of fixed income
UBS has named Jeffrey Mayer, a former director of Bear Stearns, as joint global head of fixed income. Mayer’s appointment follows UBS’s recent hire of Carson Kengeter in the same capacity from Goldman Sachs.
Stress testing next on the agenda for Basel Committee
With the need for more qualitative assessments of risk becoming ever more paramount in the wake of the credit crisis, the Basel Committee for Banking Supervision is working on a consultation paper on stress testing.
Singapore distributors appoint independent parties to oversee investigations into product misselling
Structured products distributors in Singapore, which sold DBS High Notes 5, Lehman Minibonds and Merrill Lynch Jubilee Series 3 LinkEarner Notes, in consultation with the Monetary Authority of Singapore (Mas) have appointed independent parties to oversee…
Sallie Mae names new chief credit officer
Sallie Mae, the US student loan company, has appointed David West as chief credit officer.
NAB sets up structured products desk in Singapore
National Australia Bank’s investment bank, nabCapital, has hired Peter Zeitsch as a director to build a structured products business in Singapore. He was previously head of correlation trading at Singapore bank DBS.
Paulson Plan dubbed “a necessary evil”
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Wachovia appoints Phelan as CRO
Kenneth Phelan has been appointed chief risk officer at Wachovia against the backdrop of increased financial turmoil and a possible merger with Morgan Stanley.
McCreevy speaks on cross-border supervision
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RBS adds in Italy and Germany
Luca Vari and Oliver Dietz have joined Royal Bank of Scotland Global Banking & Markets structured product and solutions sales team in Italy and Germany respectively. Both appointments are subject to the completion of FSA registration.
Merrill Lynch proposed its own sale to Bank of America, says CEO
Merrill Lynch approached Bank of America regarding its possible acquisition, its chief executive has confirmed, as both companies provided more detail around the merger. They also sought to quash concerns the hastily thrashed out deal did not provide…
Lehman Brothers files for bankruptcy protection
Lehman Brothers has filed for bankruptcy. In an announcement early this morning, the firm said it intended to file a petition under Chapter 11 with the Southern District Court of New York.
Lehman Brothers files for bankruptcy protection
Lehman Brothers has filed for bankruptcy. In an announcement early this morning, the firm said it intended to file a petition under Chapter 11 with the Southern District Court of New York.
FSSCC R&D Committee out with new agenda
Daily news headlines
Deutsche hire Ye as head of rates trading in China
Deutsche Bank has appointed Charlie Ye as a managing director and head of global rates trading in China. Ye who is based in Shanghai is responsible for growing the German bank’s renminbi-denominated interest rate products suite, expanding the local…
SuperDerivatives recruits derivatives systems implementation expert
SuperDerivatives, a derivatives solution provider, has appointed Zohar Hod as vice-president, Strategic Sales. Based in New York, Hod will be responsible for implementing the company’s multi-asset solutions to a range of clients in the global banking and…
Macquarie strengthens retail distribution in Australia
Macquarie Funds Group has appointed Irene Deutsch as Australian head of retail distribution in the retail structured products division. Deutsch, who has rejoined the Australian bank after two years, will be responsible for the distribution of structured…
RBS names head of Japanese credit trading
Royal Bank of Scotland (RBS) has appointed Theodore Lo as head of credit trading in Japan.
Fannie and Freddie CDS to settle at October auction
The auction process to settle credit default swap (CDS) contracts written against Freddie Mac and Fannie Mae will take place in the first week of October, Risk has learned, although losses on the agreements are likely to be minor for most counterparties.