People
Mixed outlook for derivatives staff
After a disappointing 2001, the job market for derivatives specialists looks set to rebound this year in certain areas, while other areas remain stagnant or face even further declines. Gallagher Polyn identifies the hot spots and those areas to avoid in…
Retail product design innovations
Retail investors the world over are looking for alternatives to the faltering stock and fixed-income markets. Derivatives dealers looking to tap this demand are rolling out new products and revising old ones for the retail audience. John Ferry and Navroz…
BNP boosts Asia-Pacific fixed-income derivatives team
French bank BNP Paribas has made three new hires to its Asia-Pacific interest rate derivatives trading team in Singapore.
FASB names Robert Herz new chairman
Robert Herz, a senior partner with PricewaterhouseCoopers in New York, has been named as the new chairman of the US Financial Accounting Standards Board (FASB), the body responsible for derivatives Financial Accounting Standard 133.
Volcker challenges the benefits of financial engineering
Paul Volcker, US Federal Reserve chairman between 1979 and 1987 and present chair of the Independent Oversight Board for embattled Enron auditor Arthur Andersen, has said he is "ambivalent" about the value of financial engineering to the US economy.
LSE predicts UK equity derivatives surge
Clara Furse, chief executive of the London Stock Exchange (LSE), today warned that stamp duty on UK share trading could increasingly damage London’s competitive advantage in international financial markets and thereby reduce the likelihood of the UK…
JP Morgan restructures credit and interest rate operations
JP Morgan Chase is creating a global credit management group, incorporating credit risk management, corporate banking and credit lending. The new division is intended to reflect a market trend away from differentiating between different debt instruments…
Major Spanish client for patsystems
Banesto Bolsa, the Spanish brokerage arm of the Banesto banking group, has signed up to J-Trader Gold, a derivatives trading service supplied by patsystems, the London-based software vendor.
Credit Agricole Indosuez boosts credit derivatives team in Asia
Credit Agricole Indosuez has hired Medes Ma as credit trading manager in its credit derivatives team in Hong Kong, according to Loïc Fery, head of credit derivatives Asia.
AIB appoints 'special' risk management adviser
Allied Irish Banks has appointed a 'special adviser' on risk management in the wake of fraud investigations into its US subsidiary Allfirst, which lost almost $700 million in currency trading.
Dresdner hires new director in hedge fund sales group
Dresdner Kleinwort Wasserstein has hired Jean Pierre Engele as a director in its equity hedge fund sales team.
CDC Ixis hires two ex-Gen Re staff
CDC Ixis Capital Markets has hired two ex-Gen Re staff to its structured derivatives and derivatives marketing teams.
Isda AGM: Carver takes on SwapsWire challenge
SwapsWire, the electronic derivatives trade processing platform backed by 23 leading dealers, has announced that Chip Carver, head of e-commerce for the rates business at Goldman Sachs, has been recruited as its new chief executive. He replaces Andrew…
Deutsche appoints new fixed-income head in Europe
Deutsche Bank has appointed Scott Gewirtz as head of fixed income in Europe.
ABN Amro adds to Asian structured derivatives team
ABN Amro has hired Jamie McWilliam to bolster its structured derivatives team in Hong Kong.
Structured products
Despite hedge funds promising absolute returns, plenty of buyers want guarantees on top
Bucking the downturn
The Decillion Convertible Arbitrage Fund has risen 16% in the past eight months despite concerns about volatility and credit in the market
Managing the future
Market volatility adds to the woes of global macro and managed futures
Safety first
After a turbulent 1998, Swiss-based Signet Research & Advisory has undergone a radical risk assessment of its fund of hedge funds