-- Daniel Flatt
Calyon has reorganized its structured credit business due to the current volatile market environment. Following the new organization, the Calyon credit markets and collateralized debt obligations product line is to become just Calyon structured credit markets.
Officials at the firm declined comment on any detail of the change, but it is understood at least 16 members, split evenly between New York and London, of the previous business line were made redundant in the last month. The role of the employees could not be determined by press time, but it is known the new line will contain 100 staffers across, Hong Kong, London, New York, Paris and Tokyo.
The news comes alongside the appointment of Benjamin Jacquard as global head of Calyon structured credit markets. Based in London, he will report directly to Guy Laffineur, Calyon global head of fixed income markets. Jacquard replaces Loic Ferry, who left the firm in September. Jacquard was previously Calyon global head of credit markets trading. Prior to joining Calyon, he was at Bank of America, where he worked as global head of structured credit trading.