Lehman Brothers
Lehman closes $500 million Asian investment-grade arbitrage synthetic CDO
Lead manager Lehman Brothers said today it has closed a $500 million five-year Asian investment-grade arbitrage synthetic collateralised debt obligation (CDO) through special-purpose vehicles Asia IG CDO Limited and Asia IG CDO LLC. The portfolio manager…
Lehman Brothers hires head of fixed-income Asia
Lehman Brothers has promoted Hyung Soon Lee, currently head of high-yield Asia, to head of fixed-income Asia.
Lehman Brothers hires Singapore Branch GM
Lehman Brothers has hired Catherine Loh as a senior vice-president and general manager of its Singapore branch, effective next Monday.
Weak equity markets continue to fuel widening in European credit spreads
Equity weakness continued to dominate the direction of European credit default swaps, pushing the cost of protection wider for volatile insurers and telecoms.
Swaps spreads for US banks and brokers widen
The cost of protection for US banks and brokers widened following a 17% plunge in third-quarter profits at Morgan Stanley and bleak forecasts by JP Morgan Chase on Tuesday that resulted in credit downgrades by rating agencies Standard & Poor’s and Fitch…
Lehman takes a proprietary route to STP integration
US investment bank Lehman Brothers will rely on proprietary technology rather than industry standards to achieve straight-through processing (STP), Patrick Maher, Lehman vice-president of operations technology told delegates at Waters Magazine’s 2002…
JP Morgan Chase woes prompt limited spread contagion
JP Morgan Chase’s profit warning and two rating agency downgrades yesterday, which prompted its debt protection costs to widen as much as 26 basis points to 100bp, has caused only a minimal impact on other financial credit derivatives spreads.
Lehman Brothers hires Asian head of equities
Lehman Brothers has hired Timothy Throsby as managing director and head of equities for Asia.
Lehman Brothers hires head of Japan fixed-income sales
Lehman Brothers has hired Tetsu Serizawa as managing director and head of fixed-income sales in Japan.
Deutsche hires FX quant Pillitteri
Deutsche Bank has hired Giovanni Pillitteri as a London-based quant for its foreign exchange structured trading team.
Lehman finds link between high volatilities and SEC investor confidence measure
The Lehman Brothers equity derivatives and quantitative research group has found the current trend of high implied and realised volatilities for US stocks partly attributable to a US Securities & Exchange Commission (SEC) order aimed at bolstering…
Lehman Brothers reshuffles insurance risk products group
Lehman Brothers’ insurance products group, which structures catastrophe risk securities and other insurance liability management products for reinsurers, has been merged with Lehman’s insurance strategies group. Insurance strategies, which now numbers 21…
DrKW hires senior credit structurer in Japan
Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Germany's Dresdner Bank, has hired Carlos Cala as director and senior structurer within its global credit derivatives team. Based in Tokyo, he will report to Rick Weinstein, London…
Lehman appoints European equity derivatives head
Lehman Brothers has hired Neil McDonald to head up its European equity derivatives flow trading business. McDonald joins from Morgan Stanley where he worked for five years as a senior equity derivatives trader.
Lehman boosts fixed-income team in Tokyo
Lehman Brothers has made two new hires to its fixed-income derivatives team in Tokyo. The US investment bank named Jeremy Martin as head swap trader, and Atsushi Ikeno as senior structurer and marketer. They both report to Satu Parikh, Lehman's head of…
SPE accounting proposal threatens CDO market
Proposed changes to US accounting standards for special-purpose entities (SPEs) could cause a dramatic decline in issuance of collateralised debt obligations (CDOs), analysts say.
Calls mount for bank and rating agency disclosure on Enron
Leaders of the US House Energy and Commerce Committee yesterday called on 10 investment banks and three credit-rating agencies to turn over records linked to Enron. Questions to the banks focused on loans to Enron and whether future business with Enron…
SAN Storm
Disaster recovery issues have thrust network-based storage into the spotlight. Lehman Brothers reveals the complex layers of storage systems that allowed business to continue after last year's World Trade Center attacks.
Lehman snaps up CSFB barrier options team
US investment bank Lehman Brothers has lured a 15-person equity barrier options team from rival Credit Suisse First Boston (CSFB) as part of its bid to boost its equity derivatives operations.
Op risk modelling evolves
Operational risk is devilishly difficult to model, but dealers and software vendors are making headway. Automated op risk reporting, profiling and sophisticated operational value-at-risk (VAR) modelling are finally beginning to catch-on in banks.
Lehman joint venture to offer emerging market risk measurement
Wall Street investment bank Lehman Brothers and New York-based political risk research firm Eurasia Group have formed a joint venture to combine Lehman's fixed-income research with Eurasia's political science expertise.
Lehman to move main New York ops into one office
Lehman Brothers plans to move its entire New York operation into Morgan Stanley's new office tower at 745 Seventh Avenue as early as January 2002, officials at Lehman have told RiskNews’ sister publication FX Week (www.fxweek.com).
Asian banks face hedging threat
Hong Kong - The Basel II bank capital adequacy accord could stop Asia's banks from hedging risk, resulting in their being shut out of the global banking system entirely, says Paul Sheehan, Hong Kong-based co-head of Asian bank research at US investment…