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European Commissioner backs power exchange merger
EU energy commissioner Andris Piebalgs has backed the merger of Germany’s European Energy Exchange (EEX) and France’s Powernext to create single Franco-German power spot and futures markets.
Jon Gregory quits Barclays Capital
Jon Gregory, London-based global head of credit quantitative analytics at Barclays Capital, is leaving the firm today.
JP Morgan’s King of securitisation departs
Bill King, JP Morgan’s global co-head of securitised products, is leaving the bank.
Adair Turner to head FSA
Adair Turner will succeed Callum McCarthy as chairman of the UK Financial Services Authority in September this year.
Iosco stiffens code of conduct for rating agencies
The Madrid-based International Organisation of Securities Commissions (Iosco) has issued a report tightening its voluntary code of conduct for rating agencies.
Mishkin resigns from Fed board
Frederic Mishkin will step down as one of the governors of the US Federal Reserve in August, creating a third vacancy on the seven-seat board.
FSA publishes feedback on the liquidity requirement discussion paper
Daily news headlines
Merrill Lynch suspends equity derivatives trader
Merrill Lynch has initiated a probe into suspicious activity detected on one of its equity derivatives trading desks, suspending one of the traders at the desk.
Marking to market, to model or to matrix?
10. Mark-to-market
Monoline insurers and the super-senior bombshell
9. Monolines
The future for CDOs: An end to complexity?
12. The outlook
Ex-Bear staff leave JP Morgan only two months into their jobs
Jeff Mayer and Craig Overlander are departing JP Morgan after being appointed to senior positions at the bank in early April.
Global head of structured credit quits Morgan Stanley
Matt Zola, global head of structured credit at Morgan Stanley, has resigned from the bank.
UBS names global capital markets heads
UBS has appointed Roberto Isolani and Matthew Koder as co-heads of its global capital markets (GCM) business, which is a recently merged division of the bank's equity capital markets and debt capital markets divisions.
JP Morgan launches placement programme for Bear Stearns staff
JP Morgan has launched a programme to place thousands of the Bear Stearns employees that are to be made redundant after its takeover of the rival bank.
SG's Kerviel report blames supervisors and accomplice
Inattention by inexperienced supervisors and an accomplice in the bank's middle office helped Jerome Kerviel carry out rogue trades that lost Société Générale €4.9 billion in January this year, according to reports released by the bank today.
Gary Bullock joins Credit Suisse as head of investment bank global operations
Credit Suisse has appointed Gary Bullock as a managing director and head of operations for the investment bank.
Dahinden, Mazzocchi, Silvotti leave RBS
Three senior structured credit bankers have left Royal Bank of Scotland (RBS) in London, not long after two of them joined the firm from Dresdner Kleinwort.