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Deutsche Bank expands US structuring desk
Deutsche Bank has expanded its US retail structuring desk by hiring Christopher Yeagley as head of the desk and Scott Milner as a vice-president in retail structuring.
Swiss Re to launch emissions desk
Global reinsurance firm Swiss Re will set up an emissions desk in within a month, says Chris Walker, New York-based managing director of the greenhouse gas risk solutions team at the company.
Linklaters strengthens Asian securitisation teams
Linklaters has added four more lawyers to its Asian structured finance and securitisation practice, set up earlier this month under Paul Kruger.
Schwab quits Barclays to return to AIG
AIG Financial Products, the derivatives arm of the American International Group, has hired Matthew Schwab as managing director in its investor coverage group.
Merrill Lynch nabs 23 derivatives marketers from JP Morgan
Merrill Lynch’s raid on JP Morgan Chase’s derivatives marketing unit has resulted in 23 derivatives marketers joining the US securities dealer. The move represents one of the largest derivatives team defections seen in Europe and appears to contradict JP…
Spitzer probe threatens MBIA bond guarantees
Regulatory scrutiny of accounting practices at MBIA has put pressure on the monoline insurer’s triple-A rating, undermining its guarantees. Hardeep Dhillon reports
Diligence overdue
Investment banks paid a record $6 billion out-of-court settlement for bond investors hit by the collapse of WorldCom. The settlement has not only raised the bar for future payouts in these cases but has also prompted underwriters to reexamine their due…
GFI names traders to spearhead property derivatives venture
Two veteran GFI brokers are set to start work developing a property derivatives trading desk as part of a joint initiative between the brokerage and real estate services group CB Richard Ellis (CBRE). Michael Levi and Paul Ogden will start work when the…
Holterman to lead Wells Fargo derivatives team
Wells Fargo has promoted Gordy Holterman to head of financial products trading, in charge of all the derivatives operations of its securities investment group division. Holterman will report to head of strategic investment David Weber.
Wilmington adds new head of derivatives
Wilmington Trust Investment Management (WTIM) has named Stephen Davenport as its head of derivatives, a newly created position.
Living with recognition
Under new accounting rules implemented this year, the majority of Europe's asset-backed securities transactions will now have to be recognised on balance sheet. Will this lead to a drop in securitisation volumes? Duncan Wood reports
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RBS beefs up equity derivatives distribution
The Royal Bank of Scotland has raided its rivals’ sales desks by hiring three directors in equity derivative sales to cover Germany, Italy and Scandinavia. The move signals the Edinburgh-headquartered bank’s intent on improving its distribution…
Axiom risks dissolution over dispute
Two of the three founders of New York-based derivatives broker Axiom Global Partners have moved to have the firm dissolved, in the latest part of a power struggle that appears to have caused the bulk of its staff to resign. The move follows an earlier…
Deutsche hires Nam for MBS trading
Keeyeol Nam, formerly a senior vice-president at RBS Greenwich Capital, has joined Deutsche Bank as a director responsible for mortgage derivatives trading.
GFI launches oil and gas broking in London
Inter-dealer broker GFI has opened a London desk to broke crude and gas oil derivatives, including options, the company announced yesterday.
US equity derivatives team quits Morgan Stanley
Nine members of Morgan Stanley’s US equity derivatives and structured product team quit to join Wachovia today. They join part of a staffing exodus from the US investment bank that its senior executives hope will be stemmed by yesterday’s resignation of…
RBS makes senior rates hire
Royal Bank of Scotland’s financial markets division has appointed Chris Fleming as head of rates flow and liquid products sales.
RBS appoints head of inflation trading
The Royal Bank of Scotland (RBS) has appointed Chris Thomas as head of sterling inflation trading and deputy head of its inflation trading business.