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Basel II: Time to prepare
Following the publication of the third and final consultation paper, Japan's banks are focusing more seriously on Basel II. With the new requirements set to take effect from 2006, most banks face a critical year ahead.
Reputation in automation
The introduction of ISO 15022 brings a glimmer of hope to those wrong-footed by nonautomated corporate actions. Pamela Brewster, senior analyst at Celent Communications looks at limiting errors and containing costs.
AIG forex under merger threat
AIG Trading’s foreign exchange group faces an uncertain future, as parent company Connecticut-based American Insurance Group (AIG) prepares to merge its AIG Trading and AIG Financial Products subsidiaries, sources close to the firm told RiskNews ’ sister…
Wachovia bolsters credit derivatives team
In the latest of a raft of recent hires, Wachovia Securities has hired Christopher Shin and Kathleen O’Halloran Harris to its structured credit products group.
Hedge Funds’ Double-Edged Sword
To meet investor and regulator concerns, many hedge funds must provide more transparency--while still keeping their strategies close to the vest.
Bear Stearns hires head of fixed-income trading in Japan
Bear Stearns has hired Raymond Wong as a senior managing director and head of fixed-income trading for Asia and Japan.
Merrill's Rule moves to head Lehman's forex forwards team
Merrill Lynch's Duncan Rule is joining Lehman Brothers in London as global head of forex forwards at the end of June.
SAS acquires OpRisk Analytics
SAS, the North Carolina-based data management software vendor, announced that it has acquired the principal assets of OpRisk Analytics, a Connecticut-based operational risk analytics company. It did not disclose financial terms.
Basel II heralds a new ‘golden age’ for risk, says BofE's Jackson
Basel II is creating a new lingua franca for risk that will usher in a “golden age” of risk management, said Patricia Jackson, special adviser to the Bank of England, at Risk magazine’s Basel II Forum in London today. The debates surrounding the wording…
ABN Amro appoints Mullen to head hedge fund sales
Dutch bank ABN Amro has appointed Alistair Mullen as global head of hedge fund sales in London.
Catching the Basel 'tail wind'
Christian Jimenez, chief risk officer at Eulia, has used momentum from regulatory change to overhaul antiquated risk management policies.
Corporate Governance Survey 2003, Part 1 >> Op risk disclosure: a long road ahead
Although most banks now have a separate section on operational risk in their annual reports, disclosure levels vary considerably. Here, Operational Risk's editorial staff review 15 bank annual reports to uncover reporting and management practices in 2002
BNP Paribas capital management team disbanded
The small team of quants in BNP Paribas’ capital management unit for fixed income has disbanded. The team, which had more than its fair share of personal differences, nonetheless published 10 technical papers in Risk during a five-year period. These…
Banks counter IAS39 threat
Banks are developing new structuring models for corporate clients to ensure the IAS39 accounting standards do not result in a reduction of complex foreign exchange hedging activity, Risk's sister publication FXWeek reports.
Banks counter IAS39 threat
Banks are developing new structuring models for corporate clients to ensure the IAS39 accounting standards do not result in a reduction of complex foreign exchange hedging activity, Risk 's sister publication FXWeek reports.
Commerzbank appoints Shottes to trade credit derivatives
Commerzbank Securities has appointed Paul Shottes to its credit derivatives group in New York.
SEB globalises options
Swedish bank SEB has globalised its foreign exchange options business in anticipation of Sweden's entry into the eurozone, reports Risk 's sister publication FX Week .
Deutsche boosts commodities business in Asia
Deutsche Bank has hired Richard Ng as vice-president and commodities marketer for the bank’s global markets business unit in Singapore.
HKEx to hire World Bank director as COO
Hong Kong Exchanges and Clearing (HKEx) plans to hire Patrick Conroy, director of the financial sector global partnerships group at the World Bank, as chief operating officer (COO) of the exchange.
Colonial First State loses head of hedge funds
Damien Hatfield, head of hedge funds at Australia’s Colonial First State, one of the country’s leading investment managers, has left the firm to set up a joint venture company.
Deutsche hires Blyth to run rates arbitrage unit
In the latest example of a growing industry trend, Deutsche Bank has set up a new proprietary trading unit, to be run by Stephen Blyth, which will specialise in interest rates' relative value and arbitrage. Europe is currently believed to be particularly…
Goldman Sachs snares Goh
Albert Goh, JP Morgan Chase’s head of equity derivatives origination for Asia ex-Japan, has been lured away from the bank to join rival Goldman Sachs.
DrKW appoints new global head of equity products
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Dresdner Bank, has appointed David Wenman as global head of equity products. Wenman moves from Easy2Trade, the electronic online broker, where he was chief executive.
SG appoints new head of equity sales and trading
SG, the investment banking arm of Société Générale, has appointed Jacques Ripoll – who was in charge of the equity financing group within equity derivatives and also the hedge fund sales group – as head of equity sales and trading.