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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.
Iris names new chairman
Iris Financial, the trading and risk management software developer, has appointed David Ure as chairman of its board of directors.
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Shareholder activism in Russia has historically been a distinctly dangerous pastime, but for investors in The Hermitage Fund and its manager William Browder, it has produced returns of 990% since 1996.
Keeping a handle on the client's money
With $280bn in private clients' assets, as at 30 June 2004, HSBC Private Bank has been using hedge funds for its customers since 1989. Simon Paul, head of private wealth management at the bank, answers questions about how and why HSBC Private Bank uses…
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