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Asian buyers driving callable SSA market have resurfaced in public benchmark deals
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SSA
New contracts cannot yet be traded in US
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  • Banks are scaling back their fx market-making activities in the face new higher capital requirements and other regulations such as the Volcker Rule.
  • Deutsche Bank has named Susan Chan and Neha Bakshi as co-heads of structured products for Asia, replacing Chris Lee who left the firm’s Hong Kong-based operations last month.
  • Moody’s Investors Service has changed its outlook for broker-dealer ICAP from stable to negative over concerns that the Volcker Rule, currently set to go into effect in July, will likely have a negative impact on its broking volume and raise its capital requirements on trading assets.
  • Annual bonuses for investment bankers in India have plunged roughly 40% this year, but headhunters and bankers say stock options and shorter deferral periods for bonuses are a plus in terms of retaining and attracting talent.
  • Morgan Stanley has placed William Bryan Jennings, its co-head of fixed income capital markets, on leave after he was arrested and charged with a hate crime involving an alleged stabbing of taxi driver of Middle Eastern descent in December.
  • Piper Jaffray is said to be considering a sale of its Asia investment-banking operations after launching it in 2006 but failing to gain significant market share.