Derivs - Equity

JPMorgan has cut Michael Moriarty, a managing director in structured alternative investments in New York.

Richard Gee, global head of program trading, index arbitrage and exchange-traded funds at JPMorgan in New York, has left the bank amid a raft of layoffs.

Fortis Investments has started offering institutional investors a fixed pay-offs strategy which uses derivatives across multiple asset classes.

Soujit Ghosh, a v.p. of exotic equity derivatives trading at JPMorgan in Hong Kong, is leaving the firm.

U.K. investment shop NDF Administration is marketing its latest fixed income plan, which references the FTSE 100 and Euro STOXX 50, and is backed by an AA- rated third-party bank.

Hedge funds with out-of-the-money trades with Lehman Brothers in the U.S. are scoping whether they can offset paying up by buying discounted in-the-money derivative claims from other counterparties.

HSBC has reportedly cut a number of staffers from its equity derivatives front office in Hong Kong.

Société Générale is touting short straddles on construction names to take advantage of high premiums amid continued volatility.

Morgan Stanley has cut around a quarter of its London-based European equity derivative flow sales team, including Executive Directors Matt Riley and Roger Hirst.

Wilmington Trust Investment Management is getting diversification for clients in equity portfolios and juicing their returns via an over-the-counter swap.

Société Générale has hired Thomas Jacquot as a v.p. in Latin American equity derivative sales in New York.

BNP Paribas is recommending writing covered calls on shares to pocket rich premiums given record high implied volatility.