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Fannie Mae appoints Leslie Rahl to board of directors
US mortgage agency Fannie Mae has appointed Leslie Rahl to its board of directors, filling the seat Stephen Friedman vacated after he resigned to become assistant to the president for economic policy and director of the National Economic Council.
Standard Bank takes on structured product marketers
Standard Bank London (SLB) has hired Rupert Boyd from Morgan Stanley and Michele Maffei from JP Morgan Chase for its sales and structured products marketing teams.
All change on the BIS op risk team
Three well-known regulatory figures will be changing places over the course of February as various secondment arrangements between the Bank for International Settlements (BIS), the Bank of England (BofE) and the Federal Reserve in the US come to an end.
ABN Amro bolsters equities franchise in Hong Kong
Dutch bank ABN Amro has boosted its equities franchise in the Asia-Pacific region with a series of appointments in sales, trading and research in Hong Kong.
Ex-Merrill Lynch energy trader pleads guilty to fraud
At 24, Daniel Gordon headed Merrill Lynch's energy trading business. He has now pleaded guilty to a $43 million fraud.
The science of compliance
The Sarbanes-Oxley Act is placing urgent demands on many US companies for accurate reporting of financial information. Clive Davidson reports on the implications for financial technology.
Hatstadt leaves Merrill after less than a year
Philippe Hatstadt, a managing director and head of structured credit derivatives trading at Merrill Lynch in New York, has resigned.
Sibling rivalry
argentina
ISE appoints vice-presidents
The International Securities Exchange (ISE) has elected Thomas Bendixen as vice-president of corporate initiatives and Robert Cornish as vice-president of automation and development.
Parmalat focus: Tragedy or farce?
Corporate Europe has been gripped by a scandal that has led to the downfall of one of Italy's largest and most established companies – dairy producer Parmalat. Bondholders don't know whether to laugh or cry at the size of the fraud.
NAB names new chairman
National Australia Bank (NAB) has appointed Graham Kraehe as chairman following the resignation of Charles Allen from the bank. The move comes just over a month after the bank announced that it was set to lose an initial estimate of A$180 million from…
Blewitt to head BoA’s structured product sales
Bank of America has promoted Dik Blewitt to head of structured sales, reporting to Mike McLaughlin, head of global structured products at the US bank and Bob Johnson, head of asset securitisation and investment-grade sales.
IASB to create advisory group
The International Accounting Standards Board (IASB) is investigating the establishment of an advisory forum, following comments from euro official Frits Bolkestein last month that standards for the treatment of derivatives are still unsuitable for…
Bracing for Basel
When international banking supervisors met in Basel, Switzerland in 1999 to propose a new framework for capital adequacy, they set in motion the biggest shake-up of the decade as to how banks measure risk and allocate capital. The new proposals, called…
Prebon re-enters credit derivatives market
Prebon Marshall Yamane has opened a credit derivatives desk in London, having sold its original team to CreditTrade, the online credit derivatives trading portal, in February 2000.
Morgan Stanley forex co-head retires
Morgan Stanley has made Philip Newcomb sole global head of foreign exchange, following the retirement of Peter Murray at the end of January, reports Risknews ' sister publication FX Week . Murray, who was based in London, and Newcomb, based in New York,…
IASB to create advisory group
The International Accounting Standards Board (IASB) is investigating the establishment of an advisory forum, following comments from euro official Frits Bolkestein last month that standards for the treatment of derivatives are still unsuitable for…
EU transparency: Lost in translation
Many credit market participants agree that a single European financial services market would be good for all concerned. But there is widespread doubt over whether the EU is the right architect for the project.
BoA promotes veteran to head of forex
Bank of America (BoA) has filled the role of head of global foreign exchange with the internal promotion of Christiane Mandell. Based in New York, she will keep this role for the enlarged bank following the forthcoming merger with FleetBoston Financial.
News in brief
Rankings 2004
CGE will face antitrust suits: rival
Rankings 2004
Ex-Merrill Lynch energy trader pleads guilty to fraud
Rankings 2004
The deal deluge
Rankings 2004
Barclays Capital strengthens in forex sales
Barclays Capital has hired two directors to work in the foreign exchange sales team. The UK-based bank said it would focus on broadening US corporate sales coverage.