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Extensive revisions expected for EU CAD in July draft
Substantial changes in content will have occurred to the EU Capital Adequacy Directive (CAD) when the final EU Commission draft is published in July. And domestic European regulators are warning that further alterations will take place to the document…
Barclays Capital snares dollar interest rate traders
Barclays Capital has hired three traders to work in its dollar interest rate derivatives team in New York.
RBS recruits Tokyo prop forex trader
UK-based Royal Bank of Scotland (RBS) has recruited Luke Waddington as a proprietary foreign exchange trader to work in its Tokyo office.
Bear Stearns strengthens Japanese fixed income
US investment bank Bear Stearns has strengthened its fixed-income presence in Tokyo with the hire of Masakazu (Max) Kobayashi as head of fixed-income sales and strategic finance.
HSBC names new London chief
HSBC will have a new head of European and Middle Eastern foreign exchange in London in early May, when Andrew Brown transfers from Hong Kong to take on the key role, reports RiskNews' sister publication, FX Week .
ABN Amro hires VP of financial institutions forex distribution in Singapore
Dutch bank ABN Amro has hired Rayson Hazra as vice-president of financial institutions foreign exchange distribution in Singapore.
Jenkins set to leave Barcap
Gary Jenkins, one of the most experienced and respected analysts in European credit research, looks set to leave Barclays Capital after the appointment of Mark Howard as the firm’s new head of credit research.
Morgan Stanley poaches DrKW credit head in Tokyo
Morgan Stanley has hired Mark Mallia as an executive director to be the senior trader and product manager for US and European bond and credit default swaps in Asia time, according to Robert Breden, executive director in the fixed-income division of the…
Lehman snares investment banking chief
US investment bank Lehman Brothers has hired Jérôme Calvet as managing director and co-head of investment banking in France.
Vega recruits US trading head
Vega Asset Management USA, the US branch of Madrid-based hedge fund Vega Asset Management, has hired Rajiv Sobti to head its North American trading operations in New York.
Bear Stearns adds to credit derivatives team in Tokyo
Bear Stearns has hired Edouard Hervey, previously a credit default swaps trader at BNP Paribas in Hong Kong, as managing director in Tokyo.
Regulators put credit risk transfer in the spotlight
Leading financial services regulators have placed the credit risk transfer market under scrutiny to establish if instruments such as credit derivatives and synthetic collateralised debt obligations (CDOs) pose a threat to financial stability.
Risk Into Value
Investment firms have plenty to consider in the race to achieve Basel II and operational risk mandates.
Deutsche Bank shuffles Asian credit team
Deutsche Bank has signalled its intention to target China’s derivatives market with the appointment of the bank’s Singapore-based head of integrated credit trading, Feng Gao, as co-head of its global markets business in China.
Former JP Morgan Chase fund trio make £55m
Three foreign exchange and fixed-income specialists who left JP Morgan Chase to set up a hedge fund have made profits of more than £55 million ($100 million) in their first year, according to RiskNews ' sister publication, FX Week .
Dollar distress
Scottish Power has announced a £400 million cash windfall through its currencyhedging programme. Others have not been so lucky – but everyone is nowwaking up to currency trading. By James Ockenden
Icap will not pay Prebon’s £2m damage claim
Icap has no intention of recognising rival broker Prebon’s £2 million claim for damages after a dispute over the employment of three Icap coal brokers, according to its director of corporate affairs Mike Sheard.
OneChicago hires project co-ordinator
OneChicago, the joint venture between the Chicago Board of Trade, the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE) to trade single-stock futures, has hired Mark Esposito as a project co-ordinator.
Barcap adds in equity derivatives
UK-based investment bank Barclays Capital has made two appointments to its equity derivatives team in London.
Icap will not pay Prebon’s £2m damage claim
Icap has no intention of recognising rival broker Prebon’s £2 million claim for damages after a dispute over the employment of three Icap coal brokers, according to its director of corporate affairs Mike Sheard.
Wachovia expands structured credit team
Wachovia Securities, the corporate and investment banking arm of Charlotte-based financial services company Wachovia Corporation, has recruited five people to work within the structured credit products group.
Bank of America reoganises credit research
Bank of America is reorganising its credit research team and will now cover European and global credits from the US.
DrKW adds to capital markets sales team in Singapore
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Dresdner Bank, has hired Patrick Bei as a director in its capital markets sales team in Singapore.
Unlimited liability
Potential liabilities for European nuclear operators are set to rise sharply.Financial guarantees for nuclear operators will have to be restructured. Aregovernments and the insurance industry up to the task? MariaKielmas reports