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New wealth management head in Japan for UBS Securities
Walter Seitz has been appointed head of wealth management at UBS Securities Japan to replace Junya Tani, who left to head Credit Suisse’s newly launched private banking operations in Tokyo.
Wachovia CRO next to step down
Donald Truslow, chief risk officer at Wachovia, is to retire as soon as his successor is named, in the latest in a series of high-level departures at the investment bank.
EC works to cut reliance on rating agencies
The European Commission hopes to reduce the dependence of financial institutions, regulators and governments on rating agencies, which it sees as a key factor in the current financial crisis.
Luc Francois joins Morgan Stanley as global head of equity derivatives and head of European equities
Luc Francois, formerly head of global equities and derivatives solutions at Société Générale Corporate and Investment Banking (SG CIB), and infamously the boss of rogue trader Jerome Kerviel, will start at Morgan Stanley in London on September 8 as head…
BarCap works to revive life insurance securitisation
For Barclays Capital, a recent £250 million ($495 million) securitisation of part of UK insurer Aegon Scottish Equitable’s life portfolio proves there’s life left in the life insurance securitisation market.
Iosco says regulators should monitor and inspect rating agencies
The International Organisation of Securities Commissions (Iosco) has recommended regulators monitor and inspect rating agencies to check whether they are following its code of conduct.
Henrard joins Dexia as head of interest rate modelling
Marc Henrard has joined Dexia Bank in Brussels as head of interest rate modelling. He will be in charge of researching, developing and implementing interest rate and inflation models.
Barcap’s Siddiqi assumes FX product distribution responsibility
Barclays Capital in Singapore has promoted Lutfey Siddiqi, managing director and Asia Pacific head of corporate FX and risk advisory, who has now assumed management responsibility for the distribution of the full suite of flow and structured FX products…
Ex-Lehman Bros CFO joins Credit Suisse
Erin Callan will join Credit Suisse as head of its global hedge funds business. She was chief financial officer at Lehman Brothers until she was removed from the role in June, several days before the bank revealed it had made a $2.8 billion loss in the…
Further monoline downgrades likely
Moody's has put the last two remaining 'legacy' monoline insurers to maintain a Aaa rating - Assured Guaranty and Financial Security Assurance (FSA) - on watch for a downgrade.
New York sues UBS for alleged auction rate securities fraud
UBS executives sold off $21 million in personal auction rate securities (ARS) holdings just days before the market ground to a halt, while continuing to market the securities to unwitting consumers, a New York State lawsuit has alleged.
Deutsche recruits foreign exchange options head
Deutsche Bank has appointed Connor Kelly as head of foreign exchange emerging markets options for central and eastern Europe, the Middle East, Africa and Latin America.
ICG chairman Klein quits Citi
Michael Klein, New York-based chairman of Citi’s institutional clients group (ICG), is leaving to pursue other opportunities, according to a statement released by the bank on July 21.
Wachovia names Robert Steel CEO amid more losses
Wachovia has revealed a $8.9 billion loss for the second quarter.
Schiro takes over global structured products at UBS
Vito Schiro has been appointed head of global structured products by UBS while continuing as head of European Equity Derivative Sales. Schiro will report to Jason Barron in equities and Fabian Shey in FICC, a group that was formed by integrating the…
New GSE legislation to be approved by end of week
Sweeping new legislation empowering the US Treasury to provide Fannie Mae and Freddie Mac with virtual carte blanche to access to government lines of credit could be approved by Congress as soon as the end of this week, Treasury secretary Hank Paulson…
Citi’s trading risk head relocates to Dubai
Farhang Mehregani, currently Citi's London-based head of trading risk for the global equities business, will relocate to Dubai to lead the bank's equities business for central and eastern Europe, the Middle East and Africa.
Pringle moves from Merrill Lynch to Citi
Mike Pringle has been appointed head of EMEA equities trading at Citi, where he will be responsible for all client trading and report to Derek Bandeen, head of global equities trading at the US bank. Pringle joins Citi from Merrill Lynch, where he was…
BNP Paribas appoints new EQD strategy head
BNP Paribas has appointed Carl Mason to the new position of head of equity derivatives strategy for the Americas. Mason joins from rival investment bank Morgan Stanley, where he was head of US equity derivatives strategy.