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NumeriX hires BGM co-creator
NumeriX, the cross-asset derivatives pricing software vendor based in New York, has hired Dariusz Gatarek as director of quantitative research in its London office.
AIG to form cross-border op risk sub-group
The Basel Committee on Banking Supervision's Accord Implementation Group (AIG) will shortly form a sub-group to focus on cross-border op risk issues, according to several regulatory sources. Regulators and the industry are pressing for a greater role in…
HSBC goes on a hiring spree for its ABS group
HSBC has hired six people for its asset-backed securities (ABS) group in New York, as part of an ongoing effort to build this area of its business.
FOA close to releasing UK power trading guidelines
The UK Futures and Options Association (FOA) says it is close to releasing final drafts of guidelines on various areas of the UK power market. The problem areas identified by the FOA's Power Trading Forum (PTF) are reference pricing, credit risk…
New England revolution
Public pension plans
Bank One casualties emerge
The first casualties from JP Morgan Chase’s upcoming purchase of Bank One – due to complete on July 5 – emerged last week with the news that both the Chicago-based bank’s foreign exchange heads in London are leaving, according to RiskNews’ sister…
DrKW recruits corporate repo and collateral trader
Glenn Handley has joined German investment bank Dresdner Kleinwort Wasserstein from Barclays Capital to work within the credit financing and collateral trading (CFCT) team, part of the short-term products and treasury group in London.
A Fine Spring
The UK’s Financial Services Authority is targeting banks that are lagging on their anti-money laundering efforts.
No More Fake IDs
As the economy recovers, financial firms are looking for technical advantages that increase top-line revenues as well as manage costs.
Lehman Brothers hires in credit derivatives sales
Lehman Brothers has poached Marco Di Prima from JP Morgan Chase as managing director responsible for German equity capital markets and European credit derivatives sales.
Bank of Montreal hires in credit
Bank of Montreal (BOM) has made a number of appointments in London to strengthen its credit platform.
Credit Suisse Asset Management snares head of quant resources
Credit Suisse Asset Management (CSAM) has hired Joseph Cherian from Bank of America's fund management business as managing director to head the new quantitative resources group in New York.
Broker Prebon hires Innogy coal trader
London-based broker Prebon may have failed in its bid to lure three coal traders from fellow broker Icap, but it is continuing to build a coal team. In mid-May, Sharon Millar, who previously traded paper and physical coal at UK utility RWE Innogy, joined…
Credit Suisse Asset Management snares head of quant resources
Credit Suisse Asset Management (CSAM) has hired Joseph Cherian from Bank of America's fund management business as managing director to head the new quantitative resources group in New York.
Deutsche loses top LatAm derivatives marketers
Deutsche Bank has lost two of its top derivatives marketers for Latin America. Hugo Faria, head of Latin American derivatives marketing and Mauricio Esquenazi, Faria’s deputy, have left for UBS and Credit Suisse First Boston, respectively.
Sarbanes-Oxley: The costly road to compliance
Some companies are looking to get a better return on their investment in Sarbanes-Oxley compliance by making it part of a larger exercise that looks at firm-wide processes and controls, and not just those surrounding financial reporting, writes Clive…
Prebon sets up coal desk
London-based broker Prebon may have failed in its bid to lure three coal traders from fellow broker Icap, but it is continuing to build a coal team. In mid-May, Sharon Millar, who previously traded paper and physical coal at UK utility RWE Innogy, joined…
SG announces new oil and gas head for China
Bruce Hu has joined SG, the investment banking arm of Société Générale, in Beijing as vice-president of oil and gas.
Barclays poaches head of German fixed-income sales from CSFB
Omar Selim, formerly head of German fixed-income sales for Credit Suisse First Boston, is to join Barclays Capital.
Analysts learn to live with CP-205
The Financial Services Authority’s (FSA) new rules governing conflicts of interest in investment research could spawn a cottage industry in interior design tailored for research teams in dire need of CP-205 compliant office layouts. The CP-205 working…
Forex forwards head leaves Citigroup
Vincent de Lorenzo, head of foreign exchange forwards trading at Citigroup in New York, left the bank earlier this month, a source at Citigroup told RiskNews' sister publication, FX Week .
IIF comments on recent Basel announcement
The Institute of International Finance (IIF), a global association of financial institutions, issued a statement yesterday welcoming the proposals that the Basel Committee on Banking Supervision published the day before, but also noted that more work…
BarCap appoints head of foreign exchange strategy
David Woo will take charge of foreign exchange strategy as a director for Barclays Capital in London, effective June 9.
Basel II proposal out in June; AMA/IRB approaches to be delayed
Yesterday, the Basel Committee on Banking Supervision confirmed that it will release the New Basel Accord, also known as Basel II, at the end of June 2004. But the Committee said the implementation of the advanced measurement approach (AMA) for…