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Japanese firm plucks banker from UBS
The Americas derivatives community came together in New York to recognise and celebrate outstanding achievements across the industry
The derivatives market gathered in London on Thursday night to celebrate its leading players
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John McCormick, ceo of markets and international banking, Asia Pacific, at the Royal Bank of Scotland in Hong Kong, has left the firm.
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Jean-Jack Badet, formerly managing director of Tradition in Lausanne, Switzerland, has been hired by BGC Partners to head the firm’s financial products business in Nyon, Switzerland.
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Moody’s sudden downgrade of Co-op Bank gave investors a very nasty shock, turning their senior debt into junk in one fell swoop. Bankers insist that this is an isolated case — but in reality it shows that investors are ignoring bail-in risk.
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It is not just the catalogue of bank misdemeanors that is putting graduates off the industry. The historic inability of banks and bankers to articulate the good they can do is as much to blame.
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The Canadian dollar has been out of favour with SSA issuers since the crisis, with issuance still meagre compared to 2007. Local investors remain focused on local public sector issuers. But a spate of fresh deals in the currency offers issuers some encouragement. They should ignore the locals — it’s an international market, after all.
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Credit Suisse is recommending a euro payer calendar spread based on the flatness of the volatility surface and the view that the risk of a rates sell-off is skewed toward later in the year.