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Morley makes fixed-income appointment
Morley Fund Management, the London-based subsidiary of Aviva Group, has appointed Mark Watts as head of global fixed income.
Goldman Sachs Looks Ahead
As global head of technology and operations for Goldman Sachs, Randy Cowen reveals his thoughts on next year's IT budget, hiring versus outsourcing, today's uncertain future, and what keeps him awake at night.
The Carrots and Sticks of Compliance
Compliance on the buy side might reward the early adopters while penalizing firms that fall afoul of industry best practices and institutional investors' expectations.
Energy users demand trading oversight
The debate continues over whether speculative traders are distorting energy prices, following a letter sent by the Industrial Energy Consumers of America (IECA) to Congress last week. “Energy markets have changed drastically, and regulatory oversight,…
Commerzbank to close FX trading and sales in London
Commerzbank is to close its trading and sales operations in London for foreign exchange.
Risk management salaries increase dramatically, says financial recruitment specialist
Salaries in risk management have increased significantly, according to Morgan McKinley, a financial recruitment firm. Demand for credit risk analysts has been particularly strong, but other areas such as operational risk and market risk continue to be…
Insolvency: a survival guide
The collapse of Parmalat has forced European legislators to take a long, hard look at the laws governing insolvency. Moves are now afoot to bring these regimes more in line with a Chapter 11 style of bankruptcy legislation, as Oliver Holtaway discovers
Former Deutsche traders launch hedge fund
Two former Deutsche Bank traders have launched a New York-based hedge fund, becoming the latest in a string of former investment bank employees to enter the business.
TCW Group hires CDO manager
Los Angeles-headquartered asset manager, TCW Group, a subsidiary of Société Générale, has hired Edward Steffelin for its New York office.
Isda taps new chairs
The International Swaps and Derivatives Association has elected a new chairman and vice-chairman. Jonathan Moulds, head of cross-product strategic trading at Banc of America Securities, has been elected chairman, while Michele Faissola, global head of…
BNP Paribas brings securitisation origination into financial institutions group
BNP Paribas has incorporated securitisation origination into its financial institutions debt capital markets (FIG DCM) team in order to strengthen and broaden coverage.
BarCap boosts illiquid credit trading
London-based investment bank, Barclays Capital, has hired Kevin Gribben as a director in its illiquid credit trading division.
A solution to counterparty credit risk?
The race is on to find a solution to outstanding issues such as counterparty risk, double default and the treatment of illiquid assets on trading books before Basel II is enshrined in regulation.
BNY sales head joins EFG Bank Group
Raymond O'Leary, formerly head of European forex sales at Bank of New York (BNY) in London, has joined EFG Bank Group, a private bank based in Geneva.
BoA loses French corp sales dealer
Olivier Brouet has left Bank of America (BoA) in London, where he worked in FX sales to French corporates, reports FX Week , Risk ’s sister publication.
Lehman to offer onshore forex derivatives in South Korea
Lehman Brothers has transferred JS Kim, a senior vice-president in fixed income, from Tokyo to Seoul, in preparation for the launch of its onshore forex and interest rate derivatives business in the country, reports Risk’s sister publication, FX Week .
BNP strengthens commodity derivatives team
BNP Paribas, the French investment bank, has made several hires in its London-based commodity derivatives trading and marketing division.
BNP beefs up energy team
BNP Paribas has expanded its energy derivatives team in London with four significant hires.
Mark Richardson joins WMG
Mark Richardson, global head of derivatives at Commerzbank Securities, has left the bank to join Mehmet Dalman at his new wealth management company, WMG. Dalman is the former head of global equities at Commerzbank.
Basel II could be detrimental to the industry, says Labarge
The implementation of the new Basel Accord (Basel II) will be more difficult than earlier envisioned, and could be disruptive to the banking industry, according to Suzanne Labarge, former Royal Bank of Canada chief risk officer (CRO).
BIS names new secretary general
The Bank for International Settlements (BIS) today named Peter Dittus as its new secretary general for a five-year term. He replaces Gunter Baer, who has held the position since 1994.
Basel II: capital concerns
Basel II has forced banks, long the mainstay of lending to European corporates, to re-evaluate the amount of money they lend. However Alan McNee reports that far from leading to a huge drop in bank lending, Basel II may actually have the opposite effect.
The Carrots and Sticks of Compliance
Compliance on the buy side might reward the early adopters while penalizing firms that fall afoul of industry best practices and institutional investors' expectations.
Gazprom completes Rosneft merger, appoints head of new company
Sergei Bogdanchikov will retain his job as chief executive of Gazpromneft, the new company formed yesterday by the merger of Russian gas monopoly Gazprom and state oil company Rosneft. He was previously head of Rosneft.