Derivs - Equity

Jeff Shaw, a director in equity derivative sales at Société Générale in New York, has left the firm.

Credit Suisse has issued open-end structured tracker certificates linked to the Aberdeen Global Emerging Markets Smaller Companies Fund and the MSCI World Index. The certificates allow investors to take long exposure to the fund and short exposure to the index.

Josh Spitz, head of European index derivatives trading at Barclays Capital in London, has left and is set to join BNP Paribas in a similar role.

Deutsche Bank has won three awards in the 2012 Global Derivatives Awards, including Global Derivatives House of the Year. Nomura and UBS each earned two nods, in the annual awards for excellence as judged by the edit staff of Derivatives Week/Derivatives Intelligence.

Citigroup is reworking its equity derivative flow trading management in Hong Kong after a series of hires and departures. The latest arrival is Robert Webb, a former founding partner at Singapore-based volatility hedge fund RSR Capital. He will head the equity-linked index flow desk in Hong Kong.

Roger Naylor, head of global equity derivatives and global head of equity risk at Deutsche Bank in London, has resigned from the firm and is set to join UBS in a new role.

Morgan Stanley has launched the Morgan Stanley FTSE Defensive Digital Growth Plan 7 and the Morgan Stanley Defensive Bonus Plan 3, structured products that aim to protect investor in bear markets.

AXA Investment Managers has launched the AXA WF Framlington LatAM Fund, a Luxembourg-domiciled SICAV managed by Julian Thompson.

Institutional investors in Asia are going against the current de-risking trend in Europe and the U.S. and are shifting assets out cash and domestic fixed income and moving into higher volatility assets classes, such as equities, according to Greenwich Associates.

Roger Naylor, head of global equity derivatives at Deutsche Bank in London, has resigned. The departure is reportedly not linked to the cuts being made by Deutsche Bank in its equities division reported this week, say observers.

Hedge funds in Hong Kong and Europe are buying two-year variance swap, volatility swap spreads referencing the Nikkei and other Asian indices as a convexity and carry strategy.

Lee Frankenfield, a senior equity derivatives trader at BNP Paribas, dubbed the Jedi Master of structured derivatives by traders in New York, has joined UBS in a senior equity derivatives trading role focusing on corporates.