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Calpers chief executive follows his CIO out of office
Fred Buenrostro, chief executive of the $244 billion California Public Employees' Retirement System (Calpers), has resigned, less than a week after the departure of the chief investment officer, Russell Read.
Babson appoints chief information officer
Babson Capital Management, based in Springfield, Massachusetts, has named Praveen Kumar as its new chief information officer.
Lehman makes global SWF push
Lehman Brothers has appointed Makram Azar to a new role as global head of sovereign wealth funds.
Deutsche appoints Hinsley for Latin America
Deutsche Bank has appointed David Hinsley to head up its structured products business in Latin America. Hinsley was also named co-head of Latin American capital markets and institutional sales, alongside fellow co-head Marcelo Blanco, who has been named…
EC outlines changes to Capital Requirements Directive
The European Commission (EC) has launched a public consultation on over 50 technical changes to the Capital Requirements Directive (CRD), which sets out the regulatory capital financial institutions must hold to cover their liabilities.
Calyon appoints Arnold Kan for Hong Kong post
Calyon has named Arnold Kan as its deputy head of fixed-income markets for Asia excluding Japan.
UBS and Merrill Lynch lose energy traders
The latest sub prime mortgage-related write downs at investment banks UBS and Merrill Lynch, have hit their energy trading arms, and a number of traders have resigned or been made redundant in recent days.
UBS report lists failures in risk management
Lack of attention, overconfidence and poor risk management procedures were at the root of UBS's subprime losses, according to a damning report released by the bank to its shareholders.
Calyon names new Asian commodities chief
Calyon has named Mark Greenleaf its head of commodities for Asia.
Bouton steps down as SG chief executive
Daniel Bouton, chairman and chief executive of Société Générale, will step down as chief executive on May 12.
Denial is not a strategy, says OCC chief
Daily news headlines
StanChart nabs Lehman talent for new structured products team
Standard Chartered Bank is strengthening its structured products capability with the creation of a new team. As part of the move, Lehman Brothers’ Remy Klammers has been appointed global head of fixed income trading, a new position which will amalgamate…
Teahan assumes role of Fund Manager in Schroder reshuffle
John Teahan has taken over as the Fund Manager for Schroder Income Maximiser and Schroder UK Income Defensive Funds, following the departure of Richard Lloyd who has left to pursue outside activities. The Structured Investments team, based in London, has…
MF Global reveals new safeguards
After losing $141.5 million to a single rogue trader, New York commodities broker MF Global has revealed the new internal controls intended to stop it happening again.
Evans joins Citi as subprime losses mount
Citi yesterday announced that it had hired Richard Evans as chief risk officer for its institutional clients group.
Dealers work towards clearing house for credit derivatives
A group of dealers hoping to avoid the systemic implications of counterparty risk are working with the Clearing Corporation on the establishment of a central clearing house for certain credit derivatives products.
ICBC official becomes first from China to join Isda board
A Chinese financial institution will be represented on the board of directors of the International Swaps and Derivatives Association for the first time, following the election of an executive from the Industrial and Commercial Bank of China (ICBC).
Barclays Capital boosts power market analysis
The investment banking division of Barclays Bank has acquired the assets of Powerlytix, a provider of fundamental market data analysis for the US electricity and natural gas markets.