Risk magazine
Write-downs mount in run-up to Christmas
Bear Stearns is the latest in a string of banks forced to reveal higher write-downs than expected.
CPDO ratings hang in the balance
Investors in constant proportion debt obligations (CPDOs) were given an unwanted early Christmas present by rating agencies, as Standard & Poor’s (S&P) and Moody’s Investors Service put the ratings of CPDO notes on review for a possible downgrade.
SG CIB names head of capitalraising and financing for Asia excluding Japan
Société Générale Corporate & Investment Banking (SG CIB) has named Ashley Wilkins as head of capital-raising and financing for Asia excluding Japan. His responsibilities will involve managing structured finance, hedging and capital market activities for…
NYSE Euronext names van der Does de Willebois acting CFO
NYSE Euronext has appointed Joost van der Does de Willebois, the exchange’s deputy chief financial officer (CFO) and head of the company’s Amsterdam market, to assume the role of acting CFO. In this role he will be based in Amsterdam.
Fortis Bank appoints new chairman
Fortis Bank has appointed Filip Dierckx as its new chairman. He succeeds Herman Verwilst, who has held this position since Fortis Bank was established in 1990.
Monolines in a world of pain
The shockwaves emanating from the monoline industry show no signs of easing up before Christmas. It had seemed that the pressure was abating, as the beleaguered financial guarantors had started to secure some much-needed capital to bolster their ratings,…
CME Group Europe boosts sales and marketing
Jeffry Kuijpers has joined CME Group Europe as associate director of sales and marketing for Europe, Middle East and Africa (EMEA).
Dry market forces ABX roll delay
Market information provider Markit has postponed the next roll of its ABX.HE index, due on January 19, for three months.
Custard to lead UBS GAM's global investment solutions
UBS Global Asset Management (UBS GAM) has named Curt Custard as head of its global investment solutions division. Custard joins UBS GAM from Schroders, where he was global head of multi-asset solutions, a position he had held since 2004.
SG CIB adds to Middle East fixed-income team
Société Générale Corporate & Investment Banking (SG CIB) has made two appointments within its fixed income, currencies and commodities division to boost Middle Eastern sales coverage while further developing finance products for Islamic investors.
Tullett Prebon shakes up senior management
Interdealer broker Tullett Prebon has appointed Steph Duckworth as chief operating officer for the Americas, and Henry Ann as chief executive officer for Europe, Middle East and Africa (EMEA). Both appointments are effective from February 1, 2008.
Lehman appoints commodities head in Asia
Lehman Brothers has hired Arun Murthy as head of commodities trading for Asia.
Icap appoints McClumpha as Asia-Pacific deputy head
Interdealer broker Icap has named Don McClumpha deputy chief executive for the Asia-Pacific region, based in Singapore.
Donohue: further exchange consolidation ahead
The global exchange industry will see yet more consolidation during 2008, believes Craig Donohue, chief executive of the CME Group in Chicago.
More subprime writedowns at Morgan Stanley
Morgan Stanley has taken a total of $9.4 billion in mortgage-related writedowns in the fourth quarter, causing it to lose $3.6 billion, it announced today.
AXA IM names new fixed-income head
Theodora Zemek has joined AXA Investment Managers as global head of fixed income.
Italease to launch securitisation repo
Troubled Milanese leasing specialist Banca Italease plans to securitise an €800 million portion of its lease portfolio, structured with ABN Amro.
New year brings funding challenges for SIVs
The pressure on structured investment vehicles (SIVs) will grow in the new year as their medium-term notes come up for renewal, investment bank Dresdner Kleinwort has warned.
Merrill Lynch names new CFO
Nelson Chai has been appointed as Merrill Lynch's chief financial officer.
SG CIB promotes Mianné
Société Générale Corporate and Investment Bank has named Christophe Mianné head of its market activities, covering equity, derivatives, fixed income, currency and commodities.
Goldman Sachs launches tradeable mortality index
Goldman Sachs has launched a tradeable mortality index based on a pool of US senior citizens.
Goldman $3.2bn profit masks $600m subprime writedown
Goldman Sachs has posted impressive returns for the last quarter of 2007, but has confirmed losses of around $600 million in its mortgage business.
ECB takes further steps to improve liquidity
The European Central Bank (ECB) has boosted levels of liquidity over the Christmas period by lending €348.6 billion in a main refinancing operation that matures on January 4.