Fortis Bank
CDS spreads tighten as bailout is revised
The cost of protection on some of the world’s largest financial institutions fell yesterday as the US Senate agreed to vote on a revised version of the $700 billion financial rescue plan.
European banks in wave of bailouts
Daily news headlines
Bank monoline exposures creep up in second quarter
Second-quarter results yielded further markdowns at major dealers due to the increasing counterparty risk posed by monoline insurers.
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.
Fortis names new Belgium chief executive
Fortis Investments has appointed Olivier Lafont as chief executive for Belgium.
Fortis expands commodities teams with UBS hires
Belgian-Dutch bank Fortis is expanding its commodity risk group with the hire of a metals team from UBS.
Rist joins Fortis acquisition team
Chris Rist has joined the London-based acquisition and leveraged finance team of Benelux bank Fortis.
Fortis' operational risk head becomes chief risk officer
Frédéric Matterne, Fortis' former head of operational risk, has become chief risk officer of Fortis Commercial and Private Banking.
Fortis Chicago merges with O'Connor and Company
Benelux bancassurer Fortis has completed its acquisition of O’Connor and Company, the Chicago-based clearing house. The new company is called Fortis Clearing Americas and will be run within Fortis’ merchant banking division.
Fortis to expand structured products offering
Fortis Bank is to expand its range of structured products in response to the growing investor appetite for exotic and hybrid investments. Under the plan, scheduled for completion in 2010, the bank will increase its current, mainly credit-focused offering…
Retail investors fuel Asian structured products boom
The structured products market in Asia will continue to grow over the next 12 months, especially among the region’s retail investors. But the potential for mis-selling means that banks need to ensure they do not offer structures that are too complex and…
Fortis appoints new head of global markets
Fortis, the Belgium-based banking and bancassurance firm, has appointed a new head of global markets.
First emissions trade concluded with Isda master support
Dresdner Kleinwort Wasserstein (DrKW) and Fortis Bank executed the first trade of European emission allowances using an International Swaps and Derivatives Association master agreement last week. London-based environmental and energy broker Evolution…
SG strengthens equity derivatives sales
SG, the investment banking arm of Société Générale, has appointed Fredrik Langley and Raman Khosla to its equity derivatives structured products sales team in London. Both take the title executive director, a new position within the group.
Lepus lists op risk leaders
US firm OpRisk Analytics, Canada-based Algorithmics, and UK company Raft International are leading the operational risk vendor market, according to a report published in January by management consultancy Lepus.
Fortis London commodities unit to implement Ubitrade system
Fortis Commodities Brokerage, the London commodity trading unit of Benelux bank Fortis, has signed up to Ubitrade Futures & Options, a capital markets trading and risk management system developed by French company Ubitrade.
ORX loss database operational by the end of the year
FRANKFURT, GERMANY - The Operational Riskdata eXchange Association (ORX), a not-for-profit venture to pool op risk loss data resources, expects its operational risk database to be operating by the end of 2002, Fred Peemoeller, chief risk officer,…
Top investors in credit
This year has been an eye-opener for investors in European credit, with some fund managers living dangerously by under-investing in credit expertise
Capital concerns
Basel’s proposals for banks involved in the repo markets have caused widespread dismay. As a result, trade organisations around the world are petitioning the committee for a wholesale rethink.