Risk magazine
Equities and fixed-income merged in Morgan Stanley overhaul
Morgan Stanley has made broad changes to its organisational structure and reporting lines, including ditching the separation of equities and fixed-income.
RAPM popular, but doubts remain over reliability
Risk-adjusted performance measurement (RAPM) techniques are spreading rapidly across the risk management industry, but many still doubt how reliable the results are, according to an industry survey.
Deutsche and VTB launch CIS corporate CDO
Deutsche Bank and VTB Bank Austria have launched a collateralised debt obligation (CDO) based on corporate debt from member countries of the Commonwealth of Independent States (CIS).
RBS names Capp as leveraged capital markets head
Royal Bank of Scotland Global Banking and Markets has named Eric Capp as head of leveraged capital markets for Europe and Asia.
Canada and Australia risk banking crisis, Fitch says
Canada and Australia are running the risk of a banking crisis of the type that hit Iceland in 2006, according to a report from Fitch Ratings.
Deutsche hires securitisation head for Asia ex-Japan
Gregory Park has joined Deutsche Bank as the Hong Kong-based managing director and head of securitisation for Asia excluding Japan.
BarCap names corporate risk chief
Christopher Rees has joined Barclays Capital as head of corporate risk advisory for Scandinavia, Benelux and Switzerland, a newly created post.
Channel Capital launches CDPC
London-based asset management company Channel Capital Advisors is preparing to launch a new credit derivatives product company (CDPC).
HDFC Bank chooses Misys for rates derivatives
HDFC Bank in India will adopt Misys Summit to process interest rate and currency derivatives. The system is scheduled to go live at the end of this year.
Lehman Brothers takes financial officer from Deutsche Bank
Andrew Wright, global chief financial officer for Deutsche Bank’s private client and asset management division, as well as regional CFO for continental Europe, is to move to Lehman Brothers.
CPSS: OTC settlements good, but still room for improvement
Systems for the clearing and settlement of over-the-counter (OTC) derivatives trades have strengthened over the past few years, but further progress is needed to reduce risk, according to a Committee on Payment and Settlement Systems (CPSS) report issued…
Rabobank names fund and equity derivatives heads
Rabobank has appointed a new team to manage its global equity and fund derivatives business.
BIS: highest CDO issuance ever but slowed overall derivatives trading
Global issuance of funded collateralised debt obligations (CDOs) reached a record $489 billion in 2006, showing strong investor interest in structured products. Synthetic CDO issuance also surged last year, doubling to $450 billion from 2005 issuance…
ABN Amro names German fixed-income capital markets head
ABN Amro has named Richard Zirps head of fixed-income group capital markets for Austria and Germany.
Moody’s backtracks on bank ratings
Following criticism over the use of Joint Default Analysis (JDA) in calculating its bank ratings, New York-based Moody’s Investors Service will review the practice.
CBOE, CME and Eurex race to launch first exchange-traded credit derivatives
The Chicago Mercantile Exchange has announced its credit index event contracts will start trading on May 6, subject to regulatory approval, making them the first exchange-traded contract on a US credit derivative index.
GFI promotes two new European heads
New York-based interdealer broker GFI has appointed Julian Swain as head of its London operations, replacing Steve McMillan, who has left the company.
Senate rejects proposed crackdown on hedge fund registration
The US senate has rejected a proposed amendment that would have required most hedge funds to register with the Securities and Exchange Commission (SEC).
RBS hires head of financial institutions securitisation
Lee Rochford has been taken on by Royal Bank of Scotland (RBS) as a managing director within its financial institutions securitisation team.
Ice announces bid to merge with CBOT
The Atlanta-based Intercontinental Exchange (Ice) is bidding to merge with the Chicago Board of Trade (CBOT), in an all-share deal valuing the Chicago exchange at $9.9 billion.
Merc and Hong Kong move on China index futures
The Chicago Mercantile Exchange (CME) will launch a US dollar-denominated futures contract based on the FTSE/Xinhua China 25 index on May 20, CME executives said in Hong Kong on Wednesday.
Nybot financial futures to launch electronically in April
The New York Board of Trade’s (Nybot) financial futures contracts will be rolled out electronically during April, according to its parent company, the Atlanta-based Intercontinental Exchange (Ice).
Bear Stearns appoints co-head of prime brokerage for expansion
New York-based bank Bear Stearns has promoted Leonard Feder to co-head of prime brokerage to work with Louis Lebedin, who was appointed co-head in June last year.
GFI expands freight coverage to South Africa
New York-based interdealer broker GFI has opened an office in Cape Town and relocated its global head of dry freight Dorian Benson there.