Credit Suisse
BarCap snares CSFB distribution head
Guglielmo Sartori d’Borgoricco is set to join Barclays Capital, the investment-banking arm of UK-based Barclays Bank, from rival Credit Suisse First Boston. It is expected he will become managing director and head of distribution for the UK and…
Davies lures another ex-CSFB credit derivatives head to Bear Stearns
Mark Davies, head of global credit derivatives trading at Bear Stearns, has lured another former CSFB colleague to the US investment bank.
Bracing for Basel
When international banking supervisors met in Basel, Switzerland in 1999 to propose a new framework for capital adequacy, they set in motion the biggest shake-up of the decade as to how banks measure risk and allocate capital. The new proposals, called…
More banks putting capital into research
ABN Amro and Barclays Capital are among the increasing number of banks putting money on their trade recommendations for foreign exchange, reports Risknews’s sister publication FX Week . Both have allocated money to start trading on model portfolios this…
Credit Suisse signs up for RMDS
Credit Suisse is to upgrade the market data platform of its headquarters in Zurich to the Reuters Market Data System (RMDS).
S&P 500 pension plan funding to cost $57 billion over next two years
The cost of funding defined-benefit – company sponsored – pension plans at the top 500 listed companies in the United States will hit $24 billion this year and $33 billion in 2005, according to research by Credit Suisse First Boston (CSFB).
Bear Stearns snares another top credit derivatives executive
Bear Stearns has made another senior hire in its rapidly expanding credit derivatives department. Alex Reyfman will join the US investment bank in New York as managing director and head of credit derivatives research.
ABN Amro continues derivatives build-up
ABN Amro has hired two foreign exchange derivatives marketing managers in the latest stage of its ongoing derivatives business expansion.
UBS adds to Taiwan equity risk management team
UBS has boosted its equity risk management team in Hong Kong with the appointment of Alex Chi as executive director.
Risk quant of the year Lipton snared by Citadel
Alex Lipton, who won Risk ’s Quant of the Year award in 2000, has left Credit Suisse First Boston after only nine months and joined Citadel Group, the Chicago-based hedge fund.
Rothschild enters oil risk sector
Heading the senior team is Martin Fraenkel, previously managing director of JPMorgan Chase's global commodities group in London. Fraenkel has recruited hissenior team from outside Rothschild. KamalInvestment bank Rothschild has entered the oil risk…
World Cup finals catastrophe-linked bond launched
Fédération Internationale de Football Association (Fifa), football’s world governing body, has launched a catastrophe-linked bond to protect itself against financial losses that would result if the 2006 World Cup finals were to be cancelled.
ANZ appoints director of financial markets for Europe and US
Australia and New Zealand Investment Bank (ANZ) has appointed Gilles Planté as director of its financial markets business for Europe and the US. He was previously director of commodities and foreign exchange derivatives, a post he has held since 1997.
Bear Stearns snares another CSFB credit derivatives head
US investment bank Bear Stearns has snared another top credit derivatives executive from Credit Suisse First Boston (CSFB) following its appointment of Mark Davies as global head of credit derivatives in May.
Mirant bankruptcy is not terminal
US energy firm Mirant’s July bankruptcy filing bucks the recent trend of last-minute restructuring deals that have saved many of its rivals from a similar fate. But analysts say the company is likely to emerge from its filing with at least some of its…
FASB unlikely to delay FIN 46, says CSFB
The US Financial Accounting Standards Board (FASB) is unlikely to delay the introduction of financial interpretation number 46 (FIN 46), the consolidation of variable interest entities (VIEs), according to the accounting and tax research team at Credit…
FASB unlikely to delay FIN 46, says CSFB
The US Financial Accounting Standards Board (FASB) is unlikely to delay the introduction of financial interpretation number 46 (FIN 46), the consolidation of variable interest entities (VIEs), according to the accounting and tax research team at Credit…
More dealers sign up to new credit derivatives matching service
BNP Paribas, Bear Stearns, Credit Suisse First Boston, Goldman Sachs and UBS Warburg are the latest dealers to sign up to a new global credit default swap (CDS) matching service, which the Depository Trust & Clearing Corporation (DTCC) plans to launch…
Ex-Putnam CRO Martens joins TIAA-CREF
Erwin Martens, former chief risk officer at Putnam Investments, has joined the Teachers Insurance and Annuity Association College Retirement Equities Fund (TIAA-CREF) in the newly created position of executive vice-president forrisk management.
Risk Italia 2003: Banks to increasingly use securitisation for risk management
The securitisation market may be increasingly used in the future to manage the risk position of banks, said Marc Zanelli, head of the securitisation group at CSFB in Milan, speaking today at Risk’s inaugural Risk Italia conference, also in Milan.
Trac-x gains market maker support
BNP Paribas has signed up to make markets in the Trac-x Europe credit default swaps index initiative established by JP Morgan Chase and Morgan Stanley. Other major dealers are also looking into offering market making services in Trac-x products, with…
Tech glitch strikes CLS
The failed settlement of more than 20,000 Australian dollar and yen trades on the continuous-linked settlement (CLS) service last week was caused by multiple technical faults, senior CLS officials said.
Fitch Risk launches Credit Rating System
CreditVantage, the credit risk management division of Fitch Risk, has launched Credit Rating System (CRS), a suite of credit rating products designed to assist banks in implementing industry best practices in their credit analysis and capital allocation…
Meeting Basel II head on
Regulators are urging banks to update their rating methodologies in preparation for Basel II. Fitch Risk's Treeve Coomber thinks his new product will help to meet this challenge.