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FSA and BBA lose key staff
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UBS Warburg hires structured products director in Hong Kong
UBS Warburg has hired Sheree Ma as a director in its structured products distribution group in Hong Kong. Ma was formerly a vice-president in JP Morgan Chase’s structuring and solutions group for Asia ex-Japan.
RiskNews review
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State Street expands foreign exchange options capability
Boston-headquartered State Street plans to expand its foreign exchange options business to better serve the needs of its clients, naming Hank Lynch as head of global foreign exchange options – a newly created position.
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…
BoA’s Mooney joins Trafigura
David Mooney has left Bank of America in New York and joined Trafigura, a privately owned Swiss-based commodity trading company with offices in 30 countries. Mooney, former head of commodity derivatives at BoA, joined Trafigura’s London office as head of…
JP Morgan names Standing’s replacement
Tom Hoppe, global chief operating officer (COO) of JP Morgan Chase’s credit and interest rate markets business, will replace Rob Standing as head of the division. Standing is leaving the bank to run the London Diversified Fund, a hedge fund.
Costs of derivatives “exaggerated” and benefits “downplayed”, say Fed officials
Two officials at the Federal Reserve Bank of Dallas have dismissed suggestions that the light oversight of derivatives during the 1990s has led to a “breakdown” of the banking system.
SG appoints new head of global forex institutional sales
SG, the corporate and investment banking arm of Société Générale, has appointed Dominick Errichetti, previously head of foreign exchange trading and sales for the Americas, as head of the French bank's global institutional foreign exchange business.