People
Shapiro to quit JP Morgan Chase; Winters promoted
Marc Shapiro, head of finance and risk management at JP Morgan Chase, will retire from the bank at the end of next year. Confirmation of Shapiro’s departure came amid a management reshuffle announced by chairman and chief executive, Bill Harrison, which…
Energy CROs committee set for public launch next week
The Committee of CROs, a body of energy company chief risk officers, will publicly launch next week. The committee has brought forward its formal creation due to the volume of industry enquiries following RiskNews' story US risk officers move to form…
JP Morgan Chase may exit European energy business
JP Morgan Chase has lost nine of its energy derivatives traders, fuelling speculation that the US investment bank may close its energy operations, at least in Europe, following widespread cost-cutting and restructuring.
JP Morgan Chase denies speculation on energy trading exit
David Puth, JP Morgan Chase’s global head of forex, whose remit includes managing the firm’s energy business, has denied the bank was planning to exit the energy business in Europe, or elsewhere, despite losing a raft of key energy traders in the past…
DrKW boosts derivatives team in Japan
Dresdner Kleinwort Wasserstein has hired Masanori Katagiri as director and head of equity derivatives structuring in Japan.
New chief executive for Zurich Capital Markets
Zurich Capital Markets (ZCM), the alternative asset management unit of Zurich Financial Services, has hired Stephen Sinacore as its new chief executive. He replaces Randall Kau, who left the firm to “pursue other interests".
Goldman's head quant Derman to retire
Emanuel Derman, head of Goldman Sachs' quantitative risk strategies group in firmwide risk, will retire from the firm in June.
Askari CEO and founder Davies to step down
Peter Davies, founder and chief executive of Askari, told RiskNews that he has resigned from the company after a decade at the helm of the New York-headquartered specialist buy-side risk management vendor.
BNP Paribas adds to energy derivatives team
BNP Paribas has hired two energy derivatives traders from JP Morgan Chase. Larry Felske joins BNP’s commodity-indexed transactions group as a director of natural gas options trading in New York, and Olivier Knight joins BNP’s London desk as an oil…
Danske continues forwards drive
Den Danske Bank has recruited foreign exchange forwards dealer Barry Smith in London as part of the bank’s bid to rebuild its forwards desk, said Matthew Couch, Den Danske's chief dealer for money markets forwards.
Citigroup names new global head of FX options
Citigroup has made Steven Reiter global head of foreign exchange options, replacing Ian Robertson, who filled the post temporarily after the departure of former options head Jack Jeffery in December.
Deutsche hires boost Iberia derivatives coverage
Deutsche Bank has poached Juan Jose Macias from Barclays Capital and Virilo Moro from Dresdner Kleinwort Wassertstein (DrKW) to boost its derivatives business in Spain and Portugal, following its earlier hire of Mariano Aldama as head of debt captial…
DrKW appoints new deputy head of equity derivatives trading
Dresdner Kleinwort Wasserstein (DrKW) has expanded its equity derivatives business with the hire of Areski Iberrakene as its deputy head of equity derivatives trading. He is due to join the bank next week.
Lim bows out as Merrill EMEA fixed-income head
Merrill Lynch’s European, Middle East and Africa (EMEA) fixed-income head TJ Lim has resigned, a move some observers believe is the result of his being passed over for promotion when the US investment bank reshuffled its debt division late last year.
Prosecutions of Enron staff highly unlikely, says ex-employee
A senior ex-Enron employee at the heart of the scandal that led to history's largest corporate bankruptcy told RiskNews' sister publication Energy & Power Risk Management that he expects no prosecution to be brought against Enron staff.
Operation information
Although the industry has undertaken work to improve the transparency of hedge porfolios, fund managers' opinions differ over just how transparent funds should be
that's The long and short of it
Running a successful hedge fund is a proposition worlds away from mastering long-only portfolios, but managers who have made the transition to a long/short environment are rising to the challenge
The jury is out
Do hedge funds flourish better in boutiques or institutions?
Axa opens first Asian long/short equity fund
EQUITY | asian absolute fund has been added to axa's hedge line up