Derivs - Credit

Chicago Trading Co., a private proprietary trading firm and liquidity provider on U.S. derivatives exchanges, has hired Michael Kamal, an over-the-counter derivatives quantitative specialist formerly with Merrill Lynch.

Boaz Weinstein, the former head of Deutsche Bank’s proprietary trading group Saba, has raised USD160 million for his new fund in five weeks.

Credit default swap dealers and clearinghouse representatives from across Europe are scheduled to meet with Charlie McCreevy, European Commissioner for internal market and services, in Brussels tomorrow.

Credit default swaps on American International Group pulled in to 22 points upfront this afternoon, according to broker Phoenix Partners—14 points tighter than yesterday.

The Canadian Imperial Bank of Commerce has hired Michael Rosborough in a new trading role covering macro trading across fixed income and foreign exchange capital markets.

Deutsche Bank has hired Stefano Galiani as a director in investment-grade tranche trading in New York. He joins at the end of July from Morgan Stanley, where he was an executive director until he departed this morning.

Goldman Sachs Asset Management has filed to launch a new closed-end, non-diversified credit fund that will invest in government and corporate debt, derivatives and other synthetic instruments.

Nomura Securities International has reportedly hired a slew of former Lehman Brothers professionals from Barclays Capital to start up a new U.S. structured finance and credit sales and trading platform.

Prop desks have been selling short-term credit default swaps on French multimedia company Thomson SA (Société Anonyme) this morning as the June 16 deadline for a renegotiation of its bank covenants approaches.

Standard Chartered has hired Brent Eastburg as global head of credit trading, according to a bank official.

Ex-Deutsche Bank credit maven Rajeev Misra has signed up with UBS to run its global credit business.

Calyon is advising investors to use sovereign credit default swaps as a proxy hedge if they buy into a hotly anticipated bond offering from Perusahaan Listrik Negara, the electric utility wholly owned by the Indonesian government.