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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.
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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.
Deutsche hires Letica to head agency CMO trading
Deutsche Bank has hired Nicholas Letica as head of agency collateralised mortgage obligation (CMO) trading.
BarCap creates new rates sales position
Barclays Capital has hired Chico Khan-Gandapur as a London-based managing director within its European rates sales team. Gandapur will start work in the newly created role within the next few months, a BarCap spokeswoman said.
Basel's CDO solution
As the Basel Committee on Banking Supervision continues its stately progress towards a revised capital Accord, one area remains under debate: the proposed capital rules for asset securitisations.
Dhown joins Deutsche from JP Morgan Chase
Deutsche Bank has hired Raj Dhown, who previously sold structured interest rate and credit derivatives products at JP Morgan Chase, as head of UK, Scandinavia, Holland and Ireland fixed-income, cash and derivatives marketing.
Deutsche hires Sekiguchi as head of emerging markets strategy
Deutsche Bank has appointed David Sekiguchi as global head of emerging markets strategy, in a role that covers research on fixed income, foreign exchange, interest rate and credit derivatives, structured products and macroeconomic analysis.
Driving down fixed costs
Outsourcing could be the key to institutions keeping up with the cost of installing technologies able to cope with CLS, Basel II and STP, and could provide a vital comfort zone in future-proofing your IT.
Merrill boosts structured products team in Asia
Merrill Lynch has bolstered its Asia-Pacific debt markets team with the addition of six new hires around the region. The newcomers will focus on structured products for both asset and liability customers.
Terrorism insurance - Modelling the unthinkable
In November, the US government passed a law requiring all insurers to underwrite terrorism risk, forcing them to find a way to price this exposure. Could terrorism risk models be the answer?
Tailoring internal models
Swiss Re's Pablo Koch Medina, Frank Krieter and Stephan Schreckenberg highlight the key features and main limitations of internal risk models for insurers.
Meeting Basel II head on
Regulators are urging banks to update their rating methodologies in preparation for Basel II. Fitch Risk's Treeve Coomber thinks his new product will help to meet this challenge.