Risk magazine
German structured products to receive rating scrutiny
Germany’s structured products look set for a shake-up, as the country’s buoyant certificate industry receives its own rating system, designed to improve transparency in the market.
MBS capital charges coming soon in Basel II shake-up
Basel II capital requirements on structured credit products are to be raised as part of a wide-ranging review of risk management practices for financial institutions in G-7 nations, the Financial Stability Forum (FSF) has announced.
Calyon appoints Lainé head of Asia fixed income
Calyon, the corporate and investment banking arm of Credit Agricole, has promoted Frédéric Lainé to head of fixed-income markets for Asia, excluding Japan.
Barclays appoints Jenkins chairman for Middle East
Barclays has appointed Roger Jenkins chairman of investment banking and investment management (IBIM) for the Middle East.
ABN Amro poaches Sturmey as Asia-Pacific ECM head from UBS
ABN Amro has appointed John Sturmey as its Hong Kong-based head of equity capital markets (ECM) for Asia-Pacific. He moves from a similar role at UBS in Hong Kong.
JP Morgan announces new heads post-merger
JP Morgan has appointed five Bear Stearns executives to top positions, in its first senior management restructuring since it rescued the rival bank.
Banks vow to improve transparency
The Institute of International Finance (IIF), a banking industry trade group, has promised to improve transparency about risk exposure and executive pay in the wake of the credit crisis.
Downgrades not the end of CPDO market
The last few months have seen massive downgrades of constant proportion debt obligations (CPDOs), but the worst could be over for the sector.
Five banks file counterclaim over Clear Channel LBO
A legal spat over the proposed leveraged buyout of Texas-based media company Clear Channel intensified on April 4, as five banks filed a counterclaim in New York against the company and its private equity suitors.
Semerci to head Duet after leaving Merrill
Duet Group, a London-based alternative asset manager, has appointed Osman Semerci as chief executive and partner.
Icap expands equity presence by buying Link
UK interdealer broker Icap will pay up to £250 million to buy Link, an equity derivatives broker based in London.
State Street names new chief risk officer
Boston-based financial services firm State Street has appointed Maureen Miskovic as its chief risk officer.
Ferguson leaves Swiss Re to head TIAA Cref
Roger Ferguson has been appointed president and chief executive officer of New York-based pension fund Teachers Insurance and Annuity Association, College Retirement Equities Fund (TIAA Cref).
Troubled broker names new CFO
MF Global, the interdealer broker that lost $141.5 million in a rogue trading incident earlier this year, has named Randy MacDonald as its new chief financial officer (CFO).
Retail investors hold key to Canadian ABCP restructuring
A vote on the Montreal Accord, the proposal to restructure C$33 billion (US$32.7 billion) of distressed non-bank Canadian asset-backed commercial paper (ABCP), is due on April 25. But with all votes counted as equal, satisfying the demands of…
Paulson regulatory shakeup looks unlikely
US Treasury secretary Hank Paulson’s long-awaited proposals to overhaul the US financial regulatory system have received a tepid response from the market, which is enthusiastic about the intent of the proposals but sceptical that they will ever be…
FSA warns of uncertainty over emissions
The UK’s Financial Services Authority (FSA) has warned of a lack of clarity regarding the regulation of emissions markets.
Worldwide investment banking revenues down 45% for Q1
Global investment banking revenues plummeted to $12.5 billion in the first quarter of 2008, a 45% decrease over the past 12 months and down 42% from the end of 2007, according to a report published on April 2 by London-based data provider Dealogic.
Moody’s bids to improve RMBS process
As the US subprime mortgage crisis shows little signs of relenting and few new securitisations are coming to market, the process of identifying what went wrong and how future calamities might be prevented has commenced.
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