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HSBC sacks US head

HSBC has replaced Bobby Mehta, its chief executive in North America, after it announced lending arrears from the US mortgage business would cost the bank more than $10.5 billion, 20% higher than analysts’ forecasts.

Canabarro returns to Stanley

Eduardo Canabarro will return to Morgan Stanley on March 5 after a three-year stint at Lehman Brothers, where he was global head of quantitative risk management. In that role, he oversaw the firm’s market, credit and operational risk analytics, as well…

Sizing up skew

Structured products providers' methods for hedging skew are fairly homogeneous. Some banks, however, are searching for ways to refine their approach to hedging by transforming skew risk into an investment palatable to sophisticated investors. By Rachel…

Tullett moves into energy

Market data provider Tullett Prebon Information has named Craig Tee as its first head of global energy and commodities.

Meteor lands in UK market

A new company, Meteor Asset Management, has been set up to distribute structured products in the UK. The company is headed by Graham Devile and Phil Saunders both who previously worked at UK structured products provider, Nvesta. Meteor is targeting the…

TXU agrees to record $45 billion buyout

The board of TXU Corp, the Dallas-based energy company, has agreed to a $45 billion takeover by private equity firms Kohlberg Kravis Roberts, Texas Pacific Group and Goldman Sachs, the investment bank.

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