People
The data deluge
Instant messaging and e-mail are critical tools for traders. But the need to oversee and archive the huge volumes of data they create has become a serious operational risk issue for broker-dealers. Clive Davidson examines the ways firms are dealing with…
Profile: JP Morgan treasury services moves beyond measurement
"We've got to an environment were there are enough scorecards and metrics in place," says Angus Grandfield, head of operational risk for the treasury services division of JP Morgan Chase's Europe, Middle East, and Africa region.
Barclays Capital hires Lacour to head vol trading
Barclays Capital has hired Franck Lacour as global head of equity derivatives volatility trading.
Fractured consensus
The dispute between the US and many of its allies over Iraq has eroded US commitment to multilateralism and damaged the credibility of multilateral institutions. How will this affect Basel II?
Isda AGM: Two new directors elected to Isda board
The International Swaps and Derivatives Association has elected two new directors to its board during its annual general meeting in Tokyo today.
Dresdner hires marketer for Korea market
German investment bank Dresdner Kleinwort Wasserstein has hired Charles Jo as director and marketer in its capital markets sales and marketing team.
FSA and BBA lose key staff
LONDON - Both the Financial Services Authority (FSA), the UK's financial regulator, and the British Bankers Association (BBA), a major industry association, have lost key operational risk staff.
Debate and controversy mark Op Risk 2003 events
Delegates at the fifth annual Operational Risk and Risk magazine operational risk conferences in London and New York this March were treated to what one speaker described as a "smorgasboard" of discussions on the subject. Attendees could choose from…
RBC Centura appoints chief risk officer
RBC Centura, a US retail banking subsidiary of Royal Bank of Canada, has appointed Andrea Bolger as its new chief credit and risk officer. She replaces Graham McLachlan, who has relocated to Vancouver as RBC’s regional president.
Berating the raters
Last year the rating agencies were slammed in certain quarters for reacting too slowly to market events; this year, there are complaints that the agencies have overcompensated by reacting too fast. So what level of responsiveness will satisfy the bond…
More FX traders for Bank One
Bank One hired two FX traders in March, continuing a build-up in spot and options trading begun earlier this year.
RBS expands credit trading team
Royal Bank of Scotland (RBS) Financial Markets has expanded its credit trading team, part of the bank’s Capital Markets business. James Chapman and Mike Srba both join the London-based team.
People moves
People
Wall Street’s Battle With BCP Regulation, Round Two
Under increased scrutiny, the industry has banded together to prevent what it sees as costly and constrictive business continuity regulations.
The Mastery Of Disaster
New technologies, clear plans and practice can help any Wall Street firm better prepare itself for a disaster the size and scope of the events of Sept. 11, 2001.
Sweating the Small Stuff
Preparing for catastrophes is only part of it. More frequently (albeit less extensively), firms are testing their readiness for water main breaks, subway strikes and power outages.
Boberski to head rates strategy at Bear Stearns
US investment bank Bear Stearns has hired David Boberski as managing director and head of interest rate strategy, in a bid to consolidate research across interest rate product lines.
HSBC appoints new global markets heads in Hong Kong
Paul Hand and Anita Fung, HSBC’s head of sales and head of trading respectively in the bank’s treasury and capital markets team in Hong Kong, have been appointed co-heads of global markets, Asia-Pacific.
New FSA chairman appointed
A new chairman of the UK's Financial Services Authority was announced yesterday by Chancellor Gordon Brown.
ABN Amro creates new global head of rates research role
ABN Amro has appointed Graham McDevitt to the new role of global head of rates research in the bank’s financial markets business. McDevitt was previously head of credit strategy.
BIS report highlights asset managers' role in inefficient markets
The structure of incentive schemes may limit the ability or willingness of institutional asset managers to act as a natural counterbalance to mispricing, according to the Committee on the Global Financial System (CGFS) – a G-10 central bank forum that…
What everybody ought to know about this credit business
CDS guide: introduction
Role reversal
Mandatory convertibles