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Basel Committee consults on liquidity risk management and supervision
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Rockefeller and SG Private Banking link up
Wealth management firm Rockefeller Financial Services and SG Private Banking will work together to service ultra high net worth individuals and family offices around the world. Both companies will also continue their own ongoing business activities.
Basel Committee drafts liquidity risk principles
The Basel Committee on Banking Supervision today issued for public comment enhanced global Principles for Sound Liquidity Risk Management and Supervision , with a July 29 deadline for responses.
Latham & Watkins hires derivatives expertise
Latham & Watkins has appointed Witold Balaban as a partner in its corporate department, who leaves rival New York firm Davis Polk and Wardwell to take the role. Balaban's role at Latham will see him focus on both equity derivatives and cross-border…
Deutsche Bank hires Victor Chao in Taiwan
Deutsche Bank Private Wealth Management has appointed Victor Chao as head of private wealth management, Taiwan. Chao, who is based in Taipei, will be responsible for managing and overseeing the franchise in Taiwan and will report to Kenneth Toong, head…
AIG replaces CEO after subprime losses mount
US insurance firm American International Group (AIG) has replaced its chief executive officer, Martin Sullivan, after reporting billions in losses caused by turbulent credit market conditions.
Axa Asia Life names regional chief actuary and risk head
Axa Asia Life has promoted Mark Stamper to the position of regional chief actuary and head of regional strategic finance, a Hong Kong-based role incorporating the duties of regional chief risk officer.
Lehman removes president and CFO as share plunge continues
Troubled Wall Street firm Lehman Brothers, still reeling from the announcement that it expects to report a $2.8 billion loss for the second quarter, its first quarterly loss since going public 14 years ago, has relieved two senior managers of their…
FSA chairman gets tough on liquidity issues
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EDF Trading’s Nordic office commences business
EDF Trading, the subsidiary of EDF responsible for wholesale energy market activity, announces the opening of its Nordic office in Oslo, Norway
New Iosco chief confirmed
Michel Prada, president of the Autorité des Marchés Financiers - the French regulator - has stepped down from his additional role as chairman of the technical committee for the Madrid-based International Organisation of Securities Commissions (Iosco).
Jacquard joins BNP
Benjamin Jacquard has joined BNP Paribas as its new global head of structured credit and arbitrage trading.
Former Citi CDO head joins Babson Capital Europe
Andrew Godson, who ran the syndicate desk for collateralised debt obligations and structured credit in Europe at Citi, has left the bank.
Companies more willing to make senior management changes
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Société Générale CIB adds in equity derivatives
Arié Boleslawski has joined Société Générale Corporate & Investment Banking as head of the exiotic trading desk for equity indexes and funds in Europe, and Selim Mehrez has joined as head of pricing and new products for equity derivatives in Europe.
FSA enlists industry experts
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Cultural change prescribed in response to subprime losses
As banks and other market players seek to close risk management loopholes exposed by tottering markets, some post-mortems are homing in on a broader issue: corporate culture.
Weather derivatives trading increases 35% year on year
Trading volumes of weather derivatives have increased 35% year on year, according to a survey by the Weather Risk Management Association (WRMA).