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Hong Kong banks lagging in preparation for Basel II
Hong Kong’s banks are lagging their European counterparts in preparing for Basel II with most still at the early stages of project planning, according to a report by consultants KPMG.
Forward Freight Agreement Brokers' Association elects new chairman
The Forward Freight Agreement Brokers' Association (FFABA) has elected Philippe van den Abeele, a broker and managing director of London shipbrokers, Clarksons, as its new chairman.
ORX database expected early next year
LONDON - The operational risk loss database run by the Operational Riskdata eXchange Association (ORX), a consortium formed by 12 international banks to pool their op risk data confidentially, is expected to begin operating around the start of February,…
Asset class no longer acting like bonds following July lows
After a turbulent year, fund managers are encouraged by signs of normality outside the US
On the move
With forward planning and the help of a property consultant, moving office can be a hassle-free experience
The nextgeneration
Research suggests performance from new funds compares favourably with their seasoned counterparts, but how do investors go about spotting emerging talent?
Cad 3 - Against their will [full story]
Europe's asset management industry is chiding Brussels bureaucrats for trying to bury it under a mountain of Basel-inspired regulation, which could boost costs and capital charges.
Small firms welcome EU proposals
BRUSSELS - European investment firms welcomed the European Commission's decision to create a special regime for them in terms of the operational risk provisions of proposed new capital adequacy rules, according to trade bodies representing the firms.
Commission highlights weak points of op risk insurance
BRUSSELS - The European Commission highlighted in November major drawbacks to the use of operational risk insurance to reduce op risk capital charges, despite its readiness to explore a wider use of insurance than that proposed in the Basel II bank…
Bear Stearns loses global fixed-income and derivatives head
Sean Hamidi, global head of fixed-income and derivatives at Bear Stearns in London, has left the bank and not been replaced, an official told RiskNews ' sister publication FX Week .
COR sets sights on building North America business
COR Risk Solutions, a London-based portfolioanalytics software company, has hired ReneRobillard as business development director for North America – a newly created post.
Prebon reorganises derivatives business
UK-based inter-dealer broker Prebon Marshall Yamane has reorganised its cash forwards and derivatives businesses in London. Rob Osborne, formerly manager of the dollar off-balance-sheet desk, takes the newly created role of divisional managing director…
Commerzbank cuts in London
Commerzbank has shed four foreign exchange jobs in London, a source at the bank told RiskNews ' sister publication FX Week . Among the departures was Behnouche Mostachfi, a senior FX options trader, the source confirmed. Another un-named options dealer,…
Jones leaves patsystems
David Jones, previously interim chief executive at London-based derivatives technology company patsystems, has left the company’s board to concentrate on other business ventures outside financial software. In September, Jones was replaced by Kevin Ashby,…
Fitch to investigate credit derivatives risk concentrations
Credit rating agency Fitch Ratings is concerned that the rapid growth and lack of transparency in the synthetic credit markets could be leading to alarming concentrations of risk with specific market participants.
IIF hires new deputy managing director
The Institute of International Finance (IIF) has named Peter McCarthy as deputy managing director with responsibility for regulatory activities.
Salame joins Tanemura as co-head of credit derivatives at Goldman
Goldman Sachs has promoted head of credit trading for Europe and Asia, Pablo Salame, to co-head of global credit derivatives alongside Ron Tanemura, who was previously sole global head of credit derivatives.
Ralfe to leave UK retailer Boots
John Ralfe, head of corporate finance at UK retailer Boots, has resigned from the company amid media speculation that he fell out with senior management over accounting and other issues related to the running of the company’s pension fund.
AIG makes senior FX appointments
AIG Trading Group has made four senior additions to its global foreign exchange operation over the past two months, a spokesperson in the bank’s Greenwich, Connecticut headquarters said.
BarCap builds credit team with two new hires
Barclays Capital, the investment banking arm of the UK’s Barclays Bank, has boosted its presence in the European credit derivatives business through two new hires.
ST Asset Management mulls CDOs and plans to boost headcount
ST Asset Management (STAM) is planning to increase its staff – which is currently 19-strong – by one third throughout next year, in a push to become a key participant in Asia’s structured finance market, according to Chong Jiun Yeh, a senior vice…