People
Private investigator Capcon focuses on UK banks
UK-based private investigation firm Capcon is making a push to win more business from banks and brokers worried by the operational and reputational risks of dealing with, or employing, people with 'skeletons in the closet'.
Kennedy succeeds Perrotte as consulting head at Summit
New York-based transaction processing technology company, Summit Systems, has promoted David Kennedy to managing director of its consulting services unit. Kennedy succeeds Kathy Perrotte, who is retiring from the company after 12 years of service.
JP Morgan Chase names new co-head of EMEA equity derivatives
JP Morgan Chase has promoted Viswas Raghavan to co-head its equity capital and derivatives markets (ECDM) for Europe, the Middle East and Africa (EMEA). He will report to CarlosHernandez, global head of ECDM, and will be based in London.
Volatility dealers’ conundrum
Margins on dollar-denominated swaptions and constant maturity swaps have narrowed sharply. This is great for clients, but dealers are caught in a bind. Gallagher Polyn asks why
Job moves
QUOTE OF THE MONTH: - “An infectious greed seemed to grip much of our business community” Alan Greenspan, on the corporate governance scandals hitting the US Source: Reuters, July 16
Clearing the obstacles
Credit quality is essential to every energy firm’s success, as recent problems at Aquila and Dynegy attest. Couple this with the post-Enron threat of increased regulation for OTC energy derivatives and it is clear that the energy trading market needs…
Serving the credit funds
Hedge funds initially used default swaps for simple hedging. Now, credit arbitrage is de rigueur, and it is inspiring dealers to reassess and restructure their own businesses in response
From strategy to tactics
Effective tactical use of risk management information has long been an aspiration of many organisations, but technical obstacles have stood in the way. In this third of four articles on integrated credit risk management, David Rowe argues that the…
Running for cover
Energy
Deutsche names Bausano head of hedge funds unit
Deutsche Bank has appointed Barry Bausano as managing director and global head of hedge funds in its New York global markets division.
Bear Stearns ramps up Asian equity derivatives business
Bear Stearns has hired Kin Cheung to head its equity derivatives trading business in Asia, including Japan. Cheung will report to Steve Meyer, senior managing director and head of global equity derivatives trading in New York, and Leonard Feder, senior…
EnergyClear names Eurex's Earle as new president
Dennis Earle has joined EnergyClear Corporation (ECC) from Eurex as its new president ahead of its September launch. ECC is a Houston-based, not-for-profit, industry owned and sponsored clearing house, which aims to provide comparison, netting and…
Hyundai Securities contemplates derivatives desk
South Korea’s Hyundai Securities is currently reviewing plans to enter the over-the-counter derivatives business in South Korea following regulatory changes earlier this month that opened up the OTC market to the country's securities firms, according to…
BoA continues hiring bonanza
Bank of America (BoA) has hired 14 new staff for its global forex business in London, New York, Hong Kong and Tokyo, snaring a host of top names over a two- to three-month period.
Weill defends Citigroup's actions over Enron
Citigroup’s chief executive Sandy Weill yesterday defended his company's actions amid increased US government scrutiny into its relationship with bankrupt energy trader Enron.
Barclays grabs Lehman's forex trading head
Barclays has hired John Caccavale, head of forex trading at Lehman Brothers in New York, to head trading for the Americas. He will report to Thomas Kalaris, Barclays’ chief executive of the Americas, based in New York. According to a recruiter, Caccavale…
Barclays Capital brings in Stephen Jones
Barclays Capital, the investment banking division of Barclays Bank, has hired Stephen Jones as its London-based head of corporate risk management for Europe and head of the newly formed financing solutions group.
Deutsche in major shake-up of credit responsibilities
Deutsche Bank has shaken up its credit derivatives business, making Boaz Weinstein its global head of investment grade credit risk. Weinstein took up the newly created role in June, continuing with his responsibilities as Deutsche Bank’s head of credit…
SEC lifts final barrier to single-stock futures trading
The final barrier to the trading of single-stock futures (SSFs) in the US was removed yesterday when the Securities and Exchange Commission (SEC) approved customer margin rules. Earlier this month, the SEC’s regulatory partner, the US Commodity Futures…
Deutsche hires senior FX strategist from JP Morgan Chase
Deutsche Bank has hired Bilal Hafeez from JP Morgan Chase as a senior foreign exchange strategist.
Algorithmics hires van den Akker to push Algo Credit sales
Algorithmics, the Toronto-headquartered provider of risk management software, has appointed Mark van den Akker as a sales specialist to head its Algo Credit risk sales in North America.
DrKW hires senior credit structurer in Japan
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Germany's Dresdner Bank, has hired Carlos Cala as director and senior structurer within its global credit derivatives team. Based in Tokyo, he will report to Rick Weinstein, London…