People
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.
Isda AGM: Regulatory scrutiny of derivatives likely, says Moulds
The derivatives industry faces a period of heightened scrutiny by regulators, mirroring the supervisory review in the wake of a series of mis-selling scandals in the 1990s, said Jonathan Moulds, president for Europe, the Middle East, Africa and Asia at…
Isda AGM: Isda names new chairman
The International Swaps and Derivatives Association (Isda) named Eraj Shirvani, a credit trading specialist at Credit Suisse, as its new chairman at its annual general meeting in Vienna today.
Nomura hires HSBC Asia risk head Denby
Nigel Denby, formerly Asia head of traded credit and market risk at HSBC in Hong Kong, joined Nomura on April 9 in a newly created post as regional head of risk management and credit in the same city.
Deutsche poaches JP Morgan credit execs for equity derivatives
Deutsche Bank has hired three former JP Morgan credit executives to form a China institutional equity derivatives sales team, to be headed by Cindy Wang.
Calyon appoints Lainé head of Asia fixed income
Calyon, the corporate and investment banking arm of Credit Agricole, has promoted Frédéric Lainé to head of fixed-income markets for Asia, excluding Japan.