Risk magazine
Merrill Lynch Investment Management builds structured products team
Merrill Lynch Investment Management has lured Fernando Guerrero, a collateralised debt obligation (CDO) specialist, away from ABN Amro to head its planned structured products team in New York.
Deutsche snares top UBS energy structurer
Deutsche Bank has hired Louise Kitchen as global head of commodities structuring and marketing, based in New York.
Siemens launches ABS programme based on low-value receivables
Siemens Financial Services (SFS) has released an asset-backed securities (ABS) 'light' programme, aimed at small and medium-sized companies with receivables portfolios of at least €3 million.
Joint indexes planned for Asian exchanges
Stock exchanges in Bangkok, Jakarta, Kuala Lumpur, Manila, and Singapore will collaborate to set up joint indexes for derivatives and fund managers.
China makes currency change
After months of increasingly fervent speculation on the future of the renminbi, the Chinese government yesterday shifted away from the currency’s peg to the US dollar.
Norton Rose hires Lovells derivatives partner
Norton Rose is moving to rebuild its structured finance and has hired Laurence Garside, formerly a partner in Lovells' derivatives practice.
JP Morgan bolsters derivatives marketing business
JP Morgan has hired four derivatives marketers for its streamlined derivatives marketing unit, including two managing directors from Deutsche Bank. They are the first significant appointments by the US investment bank since a steady stream of senior…
BNP Paribas adds six to commodity business
BNP Paribas has hired six senior traders and managers for its commodity derivatives offices around the world.
One billion oil securities to be traded in London
Oil Securities is preparing to issue up to a billion debt securities, based on Brent and West Texas Intermediate prices, on the London stock exchange next week.
Ex-Citigroup prime broker sets up capital introduction firm
Paul Radley, formerly European head of Citigroup’s prime brokerage capital introduction team, has gone independent, establishing his own capital introduction firm, Radley Capital Investments.
Markit to use ICB classification
Markit Group is to adopt the Dow Jones/FTSE Industry Classification Benchmark (ICB) system for all its products, the group announced today.
Bank of America hires credit and forex trading heads
Bank of America has hired three senior managers for its London-based global markets team, including new heads of European credit trading and global forex options correlation trading.
BarCap expands equity derivatives coverage
Barclays Capital has expanded its equity derivatives coverage with the hiring of Luca Agostini and Hermann Bader as directors in strategic equity derivatives.
Global Advisors names two managers for gas trading
New York commodity hedge fund Global Advisors has hired Adam Hoffman and Matthew Simsic as portfolio managers, aiming to increase its presence in the natural gas market.
SG boosts European rates sales
Société Générale has hired Jan de Bondt and Ian Morgan in rates sales as the bank looks to expand its European footprint in the rates business.
Nymex and Icap launch same-day OTC energy options
The New York Mercantile Exchange (Nymex) and brokerage firm Icap are to launch an over-the-counter (OTC) market in same-day options on crude oil and natural gas on July 18.
Converse joins Banc of America
Floyd Converse has moved from Goldman Sachs to Banc of America Securities, where he will head the US rates structuring unit.
Five new Dow Jones-AIG indexes launched
Dow Jones Indexes and AIG Financial Products have released five new indexes and sub-indexes covering futures on commodities including agricultural products and energy.
RBS appoints insurance coverage head
Royal Bank of Scotland (RBS) has hired Gareth Braithwaite as global head of insurance for its financial institutions relationship management team.
Eurex to launch CDS index product
Eurex has licensed International Index Company's European iTraxx indexes in preparation for the launch of an exchange-traded contract based on the European credit default swap (CDS) index before the end of the year.
CDO analyst files Sarbanes-Oxley complaint against Wachovia
Arturo Cifuentes, former managing director in structured products research at Wachovia Securities in New York, has filed a Sarbanes-Oxley complaint against his former firm.The complaint, filed 6 July with the US Occupational Safety and Health…
Isda backs Bear Stearns appeal against Enron
The International Swaps and Derivatives Association and the Bond Markets Assocation (BMA) have backed Bear Stearns' latest attempt to keep hold of $25.9 million in payments on a stock forward agreement, in the face of Enron's attempt to recover it.
Lehman appoints head of investment management
Lehman Brothers has appointed Thierry Sciard as managing director, head of investment management for Europe, tasked with the strategic development of the investment management business in the continent.
Tullett appoints new CEO
Tullett Financial has changed its name following the merger with Prebon and named G. Andrea Danese as chief executive. The company will now be known as Tullett Prebon Information.