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Regulatory turf war hits Congress
A battle for influence among US financial regulators broke out in Congress on July 24, as they testified before a Congressional committee on the merits of the Obama administration's proposals for regulatory reform.
RBC Wealth Management adds Afzal for structured notes
Wasim Afzal has joined RBC Wealth Management as manager to its structured notes and fixed income, advisory team. Afzal will be responsible for developing the structured notes offering for its high net worth (HNW) and ultra HNW clients
Billions more deficit for PBGC after GM bankruptcy
The bankruptcy of General Motors has left the pension schemes of the company's bankrupt supplier Delphi in the hands of the US Pension Benefits Guaranty Corporation (PBGC) - adding an estimated $6.2 billion to the corporation's already massive deficit.
SIM takes from Barclays Capital for team expansion
Structured Investment Management (SIM) in New York has made three new hires in an expansion of its team. The new appointments include Mark Graham as executive vice-president of structured finance, who was previously head of corporate solutions and hybrid…
Source adds three to bolster European presence
Source, the exchange-traded product (ETP) distributor, has made three new hires to its European sales team as part of its expansion effort. The open architecture provider has ensnared individuals from Lyxor Asset Management, ETF Securities and Unicredit…
JP Morgan rejigs equity derivatives unit
JP Morgan has rotated and promoted a number of key staffers in its Asian equity derivatives unit, with severalrelocating to the UK and US.
Doubt over Fed’s ability to limit systemic risk
The Obama administration’s proposals for safeguarding the financial system place the US Federal Reserve at the heart of a new regulatory regime for systemic risk, but some former regulators are sceptical of the Fed’s ability to carry out the job.
Walker Review ruffles feathers in the City
Editor's blog
UBS hires new head of rates trading
UBS has appointed Chris Murphy as its new global head of interest rate derivatives trading.
TSE targets Japanese banks for CCP
The Tokyo Stock Exchange (TSE) is courting domestic financial institutions to become clearing members of its proposed central counterparty (CCP), which it is developing alongside its 86.3%-owned clearing arm, Japan Securities Clearing Corp (JSCC).
Amerex launches consulting service
Amerex Brokers, an over-the-counter energy broker and wholly-owned subsidiary of GFI Group, has formed a fee-based energy risk management and execution consulting division called Amerex Energy Consulting Services (AECS).
SEC inspections head resigns
Daily news headlines
BofA-Merrill hires Zaimi to head FICC and structured products sales
Bank of America Merrill Lynch has named Sanaz Zaimi as head of Fixed Income, Currencies and Commodities (FICC) sales for Europe, Middle East and Africa (EMEA), as well as head of debt and equity Structured Products Sales for the same region.
High correlations spur interest in CCDS
Interest in using contingent credit default swaps (CCDS) as a speculative tool is being fuelled by high levels of cross-asset class correlations, according to some market participants.
Singapore's MAS bans 10 retail structured note distributors
The Monetary Authority of Singapore (MAS) has banned 10 financial institutions from selling structured notes, after their clients lost S$401 million by investing in Lehman-linked structured credit products.
SEC considers asking banks to justify director appointments
Daily news headlines
Q&A: Ceiops' secretary-general supports EC reforms
In an interview with Risk , Carlos Montalvo Rebuelta, secretary-general of the Committee of European Insurance and Occupational Pensions Supervisors (Ceiops), backed the European Commission's plans to replace it with a new supervisory authority that…
UBS merges quant group
UBS has merged its fixed income, currencies and commodities (FICC) and equity quantitative analysis teams, bringing them under the umbrella of the newly created investment banking (IB) quantitative analysis group, according to a leaked internal memo.
Michael Cosgrove
Our 15th anniversary profile series of key energy industry figures continues as Pauline McCallion talks with with Michael Cosgrove, head of commodities and energy brokerage, North America at GFI
Full marks
Michel Marks, former chairman and board member of Nymex, tells Roderick Bruce about his role in taking the exchange from small potatoes to a cross-commodity powerhouse