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Sallie Mae names new chief credit officer
Sallie Mae, the US student loan company, has appointed David West as chief credit officer.
NAB sets up structured products desk in Singapore
National Australia Bank’s investment bank, nabCapital, has hired Peter Zeitsch as a director to build a structured products business in Singapore. He was previously head of correlation trading at Singapore bank DBS.
Paulson Plan dubbed “a necessary evil”
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Wachovia appoints Phelan as CRO
Kenneth Phelan has been appointed chief risk officer at Wachovia against the backdrop of increased financial turmoil and a possible merger with Morgan Stanley.
McCreevy speaks on cross-border supervision
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RBS adds in Italy and Germany
Luca Vari and Oliver Dietz have joined Royal Bank of Scotland Global Banking & Markets structured product and solutions sales team in Italy and Germany respectively. Both appointments are subject to the completion of FSA registration.
Merrill Lynch proposed its own sale to Bank of America, says CEO
Merrill Lynch approached Bank of America regarding its possible acquisition, its chief executive has confirmed, as both companies provided more detail around the merger. They also sought to quash concerns the hastily thrashed out deal did not provide…
Lehman Brothers files for bankruptcy protection
Lehman Brothers has filed for bankruptcy. In an announcement early this morning, the firm said it intended to file a petition under Chapter 11 with the Southern District Court of New York.
Lehman Brothers files for bankruptcy protection
Lehman Brothers has filed for bankruptcy. In an announcement early this morning, the firm said it intended to file a petition under Chapter 11 with the Southern District Court of New York.
FSSCC R&D Committee out with new agenda
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Deutsche hire Ye as head of rates trading in China
Deutsche Bank has appointed Charlie Ye as a managing director and head of global rates trading in China. Ye who is based in Shanghai is responsible for growing the German bank’s renminbi-denominated interest rate products suite, expanding the local…
SuperDerivatives recruits derivatives systems implementation expert
SuperDerivatives, a derivatives solution provider, has appointed Zohar Hod as vice-president, Strategic Sales. Based in New York, Hod will be responsible for implementing the company’s multi-asset solutions to a range of clients in the global banking and…
Macquarie strengthens retail distribution in Australia
Macquarie Funds Group has appointed Irene Deutsch as Australian head of retail distribution in the retail structured products division. Deutsch, who has rejoined the Australian bank after two years, will be responsible for the distribution of structured…
RBS names head of Japanese credit trading
Royal Bank of Scotland (RBS) has appointed Theodore Lo as head of credit trading in Japan.
Fannie and Freddie CDS to settle at October auction
The auction process to settle credit default swap (CDS) contracts written against Freddie Mac and Fannie Mae will take place in the first week of October, Risk has learned, although losses on the agreements are likely to be minor for most counterparties.
Calyon cuts back derivatives operations
Calyon will cut 500 jobs and pull out of the structured credit and derivatives markets as part of a plan to survive the market downturn.
Calyon reduces equity derivatives risk profile in restructuring
Calyon will centre its business around structured finance, equities including brokerage and equity derivatives, and fixed income following the implementation of a restructuring plan that was explained at a briefing in Paris this afternoon. The…
Axa names fixed-income CIO
Chris Iggo, formerly a senior strategist on the investment strategy team, has been appointed Axa Investment Managers’ chief investment officer of fixed income, a newly created position.
RBS creates FI sales head post for Asia ex-Japan
Royal Bank of Scotland (RBS) has hired Manish Mahajan in a newly created role as head of sales for financial institutions (FI) for Asia excluding Japan. He joins from Deutsche Bank in Singapore, where he was head of rates sales and strategic solutions…
Old Mutual’s CEO resigns after facing writedowns
Jim Sutcliffe, chief executive of London-based financial services company Old Mutual, has resigned from the firm after it reported it would face heavy writedowns in its US life insurance division, US Life.
RBS names head of forex trading, Americas
Royal Bank of Scotland (RBS) has appointed Christiane Mandell as head of foreign exchange (forex) and local markets trading for the Americas, based in Greenwich, Connecticut.
Fitch nears end of global CDO review
Almost a year on from its global collateralised debt obligation (CDO) ratings embargo, Fitch Ratings is months away from determining the final status of ratings on hundreds of corporate CDOs.
CPDOs under review as Moody’s announces further error
New York-based ratings agency Moody’s Investor Services announced on September 4 it might downgrade several constant proportion debt obligations (CPDOs) after discovering another error in its securities monitoring.
BGI appoints Fuhr global head of ETF Research and Implementation
Barclays Global Investors (BGI) has appointed Deborah Fuhr as global head of exchange-traded funds (ETF) Research and Implementation Strategy, in a newly created role effective from September 15. Fuhr will also occupy the position of a managing director,…