Risk magazine
Credit Suisse names Varvel CEO of EMEA
Credit Suisse Group has appointed Eric Varvel chief executive officer of the Europe, Middle East and Africa (EMEA) region. In this role, he will be based in London and report to Brady Dougan, chief executive of Credit Suisse. Varvel will also become a…
HKEx introduces new market access products
The Stock Exchange of Hong Kong listed six zero-strike derivative warrants on non-Hong Kong underlying assets on January 30.
Darras named Isda's general counsel, Americas
The International Swaps and Derivatives Association (Isda) has appointed Katherine Tew Darras as its general counsel, Americas, and head of equity, foreign exchange and interest rate legal. In her new role, she reports to David Geen, Isda’s general…
Tullett Prebon appoints Dunkley as director of volatility
Tullett Prebon has appointed Paul Dunkley as director of its volatility division. He will be based in London and will report to Marcus Bolton, managing director of volatility.
Calyon appoints new head of structured finance
Jean-François Marchal has been made head of the structured finance division at Calyon, and a member of the investment bank’s executive and management committees.
BNP Paribas expands in London fund derivatives sales
BNP Paribas has appointed two salespeople to its fund derivatives sales team within its equities and derivatives division in London.
FSA 2008 outlook focuses on SocGen bonus lessons
The Financial Services Authority (FSA) has urged investment banks to re-examine their attitudes towards annual staff bonuses in the wake of last week's record rogue-trading loss at Société Générale.
CME Group in talks to buy Nymex
Chicago-based CME Group is in preliminary discussions aimed at acquiring the New York Mercantile Exchange (Nymex), the two firms announced on January 28.
SG gives details of fraud, but questions remain
Société Générale has released more details of the rogue equity index trades that cost it €4.9 billion, alongside news that the bank was first alerted to the trades as far back as November 2007.
Credit Suisse boosts equity derivatives in Germany
Credit Suisse has appointed Oliver Groeteke, Wolfgang Faust and Dirk Bombe to add to its equity derivatives sales team in Frankfurt. The three new staff arrive from Deutsche Bank, where they worked on the institutional equity derivatives sales desk,…
Liffe to list options on stock index ETFs
London-based derivatives exchange Liffe is to list options on the iShares FTSE 100 and DJ Euro Stoxx 50 exchange-traded funds (ETFs), which are operated by San Francisco-based asset manager Barclays Global Investors.
New deputy chairman at Tradition
French interdealer broker Tradition has named Bruce Collins as its new deputy chairman.
BarCap releases Quant credit strategy indexes
Barclays Capital has launched a new range of credit derivatives strategy indexes.
€4.9 billion fraud at Société Générale
Société Générale has suffered a €4.9 billion loss from rogue dealing by one of its equity index futures traders, forcing it into a €5.5 billion rights issue.
Shake-up at SG follows rogue trader losses
Top management at Société Générale has been reshuffled in the wake of the rogue trades which cost the bank €5 billion in losses this month.
Questions remain over SG rogue trader
In a conference call this morning, Société Générale's chairman, Daniel Bouton, attempted to explain how the bank came to suffer losses of almost €5 billion from a single rogue trader on its equity index futures desk, but left many questions unanswered.
'He didn't want to tell the truth immediately': Mianne on Kerviel
The Société Générale rogue trader knew "perfectly" how to conceal his trades with a combination of fictitious trades and rolling forward positions, according to Christophe Mianné, the new head of global equities and derivatives, who spoke exclusively to…
Monoline bailout looking likely
As market conditions continue to deteriorate, interested parties are coming together in an attempt to save the imperilled US monoline insurers from bankruptcy.
Man Investments opens Singapore office
Man Investments, a London-headquartered alternative investments manager with $71 billion under management, today opened an office in Singapore. Tim Peach, head of sales for South-east Asia, will relocate from Hong Kong to lead the Singapore team.
Bad timing for Basel II
The Basel II regulations on capital adequacy came into effect on January 1 this year. Although they were intended to produce more flexible and refined methods of calculating capital requirements, some are pessimistic about how the new rules will affect…
$6bn in Q4 writedowns at Bank of America and Wachovia
Bank of America and Wachovia, the second and fourth biggest banks in the US by assets under management, have posted large writedowns for the fourth quarter of 2007 as depreciating mortgage-backed securities (MBS) continue to punish banks’ bottom lines.
Calyon names credit head
Neal Neilinger has joined Calyon in London as global head of the credit business, part of the bank's debt and credit markets division. He will report to the global head of debt and credit markets, Jim Siracusa.
Schueler leaves Deutsche
Marcus Schueler, head of integrated credit marketing at Deutsche Bank, has left the bank.
Markit takes over Boat reporting platform
Market information provider Markit, based in London, has taken over the Boat trade reporting platform.