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Private banks
Merrill continues to shake up senior management
Ahmass Fakahany, Merrill Lynch’s co-president and chief operating officer, is about to retire, leaving on February 1. Fakahany joined the bank in 1987 and has served in a variety of senior roles, including as vice-chairman and chief administrative…
New CEO for Bear Stearns Securities Corporation
Michael Minikes has been named chief executive officer of Bear Stearns Securities Corporation (BSSC), which conducts Bear Stearns’ clearing operations. Robert Upton will assume the title of treasurer of the New York-based parent organisation The Bear…
Credit Suisse names Varvel CEO of EMEA
Credit Suisse Group has appointed Eric Varvel chief executive officer of the Europe, Middle East and Africa (EMEA) region. In this role, he will be based in London and report to Brady Dougan, chief executive of Credit Suisse. Varvel will also become a…
Darras named Isda's general counsel, Americas
The International Swaps and Derivatives Association (Isda) has appointed Katherine Tew Darras as its general counsel, Americas, and head of equity, foreign exchange and interest rate legal. In her new role, she reports to David Geen, Isda’s general…
Tullett Prebon appoints Dunkley as director of volatility
Tullett Prebon has appointed Paul Dunkley as director of its volatility division. He will be based in London and will report to Marcus Bolton, managing director of volatility.
Calyon appoints new head of structured finance
Jean-François Marchal has been made head of the structured finance division at Calyon, and a member of the investment bank’s executive and management committees.
Tullett Prebon brokers first physical fuel grade ethanol trade
Inter-dealer broker Tullett Prebon’s biofuel desk has completed its first trade in physical fuel grade ethanol.
BNP Paribas expands in London fund derivatives sales
BNP Paribas has appointed two salespeople to its fund derivatives sales team within its equities and derivatives division in London.
Credit Suisse boosts equity derivatives in Germany
Credit Suisse has appointed Oliver Groeteke, Wolfgang Faust and Dirk Bombe to add to its equity derivatives sales team in Frankfurt. The three new staff arrive from Deutsche Bank, where they worked on the institutional equity derivatives sales desk,…
BNP Paribas adds fund derivatives sales in London
BNP Paribas has appointed Stephane Berthet and Frederic Cezard in its fund derivatives sales team within its Equities & Derivatives division in London.
New deputy chairman at Tradition
French interdealer broker Tradition has named Bruce Collins as its new deputy chairman.
€4.9 billion fraud at Société Générale
Société Générale has suffered a €4.9 billion loss from rogue dealing by one of its equity index futures traders, forcing it into a €5.5 billion rights issue.
Shake-up at SG follows rogue trader losses
Top management at Société Générale has been reshuffled in the wake of the rogue trades which cost the bank €5 billion in losses this month.
Questions remain over SG rogue trader
In a conference call this morning, Société Générale's chairman, Daniel Bouton, attempted to explain how the bank came to suffer losses of almost €5 billion from a single rogue trader on its equity index futures desk, but left many questions unanswered.
Man Investments opens Singapore office
Man Investments, a London-headquartered alternative investments manager with $71 billion under management, today opened an office in Singapore. Tim Peach, head of sales for South-east Asia, will relocate from Hong Kong to lead the Singapore team.
Calyon names credit head
Neal Neilinger has joined Calyon in London as global head of the credit business, part of the bank's debt and credit markets division. He will report to the global head of debt and credit markets, Jim Siracusa.