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FAS 133: routine or ruinous?
The Association of Finance Professionals, a 14,000-strong group of corporate treasurers and finance officials, gave Risk an exclusive look at its just-completed member survey on the implementation and consequences of FAS 133. Two years after the…
Global derivatives rankings 2002
For Risk’s 11th annual inter-dealer rankings, we have refined our categories and polled hundreds of market participants to reveal which firms are the best in the business. Introduction and rankings compilation by John Ferry, with additional research by…
Lazard hires Stonehill to build capital markets business
The investment banking unit of New York-headquartered Lazard has hired Charles Stonehill as London-based global head of its capital markets businesses, a newly created position.
Deutsche hires FX quant Pillitteri
Deutsche Bank has hired Giovanni Pillitteri as a London-based quant for its foreign exchange structured trading team.
Ex-Aquila weather head says reinsurers are still backing his team
Five reinsurance companies that invested in troubled energy company Aquila’s weather business, which closed earlier this month, are likely to retain their partnerships with the old weather trading team headed by Ravi Nathan, former chairman of the…
DrKW recruits London-based credit derivatives flow trader
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Germany’s Dresdner Bank, has hired Paul Lewitt as director and head of credit derivatives flow trading based in London. The London hire follows a ramp-up of DrKW’s credit derivatives…
Bear Stearns hires US rate futures sales manager
US investment bank Bear Stearns has hired Alan Swimmer from rival Citigroup Salomon Smith Barney as a senior managing director and national sales manager for its interest rate futures business.
UBS hires Paget to derivatives marketing role
UBS Warburg has hired James Paget as an executive director in the European financial institutions derivatives marketing group, part of the firm’s interest rates division. Based in London, he will report to Philippe Jordan and Jacopo Levi-Morenos, co…
Commerzbank boosts US derivatives distribution team
Commerzbank Securities, the investment banking arm of Germany's Commerzbank, has hired Judith Erdman as head of third-party distribution in the US. She will report to Sam Gottesman, Commerzbank's New York-based head of distribution for derivatives in the…
HSBC hires CSFB’s global head of structuring
HSBC has appointed Chris McHugh, former global head of structuring at CSFB, as European head of foreign exchange derivatives structuring.
Conde takes CEO post at SunGard
Cristobal Conde has been elected chief executive of Pennsylvania-based risk technology company SunGard, adding to his current responsibilities as president.
ABN Amro appoints new head of Asian equity derivatives trading
Dutch Bank ABN Amro has hired Ali Ahmed as head of Asian equity derivatives trading in Hong Kong, according to an official at the bank in the territory.
Jones steps down to make way for new patsystems chief
London-based derivatives trading systems vendor, patsystems, has hired Kevin Ashby as chief executive with effect from September 1. Ashby replaces David Jones, who survived a vote of no confidence in March only to announce his decision to resign a few…
Barclays appoints global head of foreign exchange options
Barclays Capital, the investment banking division of Barclays Bank, has hired Despina Pantopoulou as a managing director and global head of forex options with immediate effect.
Barclays Capital boosts credit derivatives effort
Barclays Capital, the investment banking division of Barclays Bank, has appointed Andrew Whittle, ex-head of European credit derivatives at Bear Stearns, to a newly created position as European head of credit derivatives.
ABN Amro hires global head of CDOs
Dutch bank ABN Amro has hired Fernando Guerrero, formerly managing director of structured products at TD Securities, to head its global collateralised debt obligation (CDO) business.
SG expands fixed-income distribution team
SG, the corporate and investment banking arm of Société Générale, has hired Philip Brutsche to its German and eastern European fixed-income distribution team. Brutsche will be responsible for marketing flow fixed-income products, including interest rate…
Van Tonder takes over as Front’s South Africa head
Cliff van Tonder has assumed leadership of Front Capital Systems’ South Africa office. He will maintain relations with existing Front clients such as ABSA, Standard Bank, Nedcor and Investec, as well as targeting new clients likely to include prominent…
Vijayan quits Andersen to join Principia Partners
Anil Vijayan, former head of the straight-through processing practice in the consulting division of auditor Andersen, has moved to software vendor Principia Partners to shape the New Jersey-based company’s FAS 133 and IAS 39 derivatives accounting…
New director of group risk management at Invensys
Invensys, the production technology and energy management company, has hired Nick Smith as director of group risk management in London.
SG appoints director of structured products in Tokyo
SG, a division of French banking group Société Générale, has boosted its Tokyo-based structured products team with the appointment of Soon-Il Lee as a director of the group.
HypoVereinsbank moves for Japanese credit derivatives licence
HypoVereinsbank is preparing to apply for a licence that would allow it to trade credit derivatives in Tokyo. The move comes as the German bank has significantly beefed up its credit derivatives and securitisation teams in Asia.
UBS will not replace timezone risk manager Mullet
UBS Warburg, the investment banking arm of Swiss bank UBS, said it will not replace Mark Mullet, a timezone risk manager for North America FX options.
Deutsche Bank Americas credit derivatives head moves to Asia
Alejandro Brockmann, head of credit derivatives for the Americas at Deutsche Bank in New York, has now been made head of the bank's emerging markets trading and integrated credit trading for Asia. He will officially take on his new Singapore-based role…