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In the shadows
Booming over-the-counter derivatives markets may be generating huge revenues for dealers, but they are also casting a worrying shadow over trading book profits in the form of counterparty credit risk. Are contingent credit default swaps the answer?
Italian regulator establishes quant unit
Italy's Commissione Nazionale per le Societa e la Borsa (Consob), the regulator that oversees the country's securities markets, has created a stand-alone quantitative analysis unit.
BNP Paribas hires European securities lending head
BNP Paribas has appointed David Lonsdale to the newly created position of European head of securities lending, within its equities and derivatives business.
BarCap hires European fixed-income structuring head
Barclays Capital has hired Aurelia Lamorre-Cargill as head of European fixed-income structuring.
RBS hires to financial institutions securitisation
Royal Bank of Scotland (RBS) has hired Hubert Tissier de Mallerais as a managing director in its financial institutions securitisation team.
Credit Suisse makes fixed-income hires in Sydney
Credit Suisse has made three new hires to its fixed-income sales and coverage teams in Sydney for its Australian investment banking business, reflecting strong momentum in corporate sales and structured products, says the bank.
Deutsche Bank Securities appoints rates trading head
Tom Hartnett is joining Deutsche Bank Securities as head of core rates trading within the bank’s global rates business.
US Treasury slams terrorism insurance rules
Extension of TRIA dissuading private sector innovation, says Nason
Cannon appointed
Matthew Cannon has been appointed head of Structured Credit Products, Asia-Pacific for HSBC. Cannon moves from the bank’s European offices, where he was responsible for marketing structured credit products in that region. Cannon’s appointment marks an…
GARP adds four directors
The Global Association of Risk Professionals (GARP), an industry body, has appointed four regional directors.
BNP Paribas adds two in FX sales to hedge funds
BNP Paribas has hired Peter Snasdell and Peregrine Hood to its London-based hedge fund sales desk for foreign exchange.
HSBC creates Asia-Pacific structured credit product head
Matthew Cannon, HSBC’s London-based head of structured credit marketing for Europe, the Middle East and Africa, has been appointed to a newly created role.
Hedge fund working group to review best practice
A working group of 13 primarily UK-based hedge funds is to review best practice in the industry and examine the possibility of industry-wide standards.
Goldie-Morrison named chief executive of Calyon Americas
Calyon has appointed Duncan Goldie-Morrison as chief executive of Calyon Americas.
UK FSA appoints retail firms head
Sheila Nicoll is the new director of the retail firms division of the UK Financial Services Authority (FSA).