Derivs - Credit
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Robert Pickel, ceo of the International Swaps and Derivatives Association, is set to leave this summer after 17 years at the association. -
Gregor Hirt, ex-head of multi-asset Europe at Schroders in Zurich, has joined UBS Global Asset Management as GIS chief investment officer, also based in Zurich.
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Overall interest rates derivatives trading that was reported to the swap data repository over the last seven days decreased by 16% from the previous week, according to data from the International Swaps and Derivatives Week. However, overall credit default swaps trading increased by 4%.
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Ali Salahuddin, head of global-equity linked products at the Royal Bank of Canada in Toronto, has left the firm. Ahmed Kachenoura, managing director, head of AMRS trading and head of the US platform, global equity linked products in New York, will assume Salahuddin’s responsibilities. Kachenoura will remain in New York as head of global equity-linked products.
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John Gousias, the ex-head of investment grade flow credit trading at Royal Bank of Scotland in London, is joining HSBC as head of financials, index, options and ETF trading and co-head of European flow credit.
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A mix of hedge funds, real money and bank desks are looking at ways to avoid paying theta during the Easter holidays in Europe by trading payer spreads 1x1 on the iTraxx Main, with some also tapping 1x2 payers.
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Hedge funds and asset managers are considering buying protection on the iTraxx Crossover, and going long the EuroStoxx 50 with a time horizon of six months, expecting stocks to outperform credit in the near term.
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Lloyds has hired three bankers for its expanding credit markets team in New York, as well as transferring another, Wesley Fallan, from its London headquarters, as it looks to win more business in the US in fixed income and securitization.
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RBS has hired Sophie Landry from Credit Suisse to become head of bank solutions for Germany, Austria and Switzerland, reporting to Pieter Paul Gerretschen, head of European rates sales and Patricio Silva, head of European asset-backed sales.
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Jill Considine is set to join the board of directors at LCH.Clearnet Group on April 25, 2014. She was previously one of three trustees of the AIG Credit Facility Trust, a role appointed by the US Treasury and Federal Reserve Bank of New York, from 2009 to 2011.
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UBS has seen its exchange-traded note program assets more than triple in less than 18 months. The program had approximately USD1 billion at the end of 2012 and now has USD3 billion.
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