Derivs - Interest Rate

Royal Bank of Scotland has hired Timothy Yule as the firm’s head of non-equity structuring for Australia, based in Sydney.

Some derivatives trading could become too expensive for sellsiders outside the big five under the swaps desk spin-off provision in the U.S. Dodd-Frank bill.

StormHarbour Partners, the boutique formed by ex-Citigroup trading executives Antonio Cacorino and Frederick Chapey, has hired Michel Labrousse as a managing director of Asia derivatives and structured solutions.

U.S.-based derivative-using hedge funds have been seen heading to Ireland, local attorneys report. Some of the moves are being driven the U.S. Financial Reform Bill which will make trading over-the-counter derivatives more costly.

Credit Suisse has hired Bernadina Suen from Deutsche Bank as a sales executive covering fixed income for Hong Kong.

Standard Chartered has hired Reza Ridzuan from Barclays Capital to head up fx and interest rates structuring for South East Asia.

The Securities and Exchange Commission’s structured products unit will likely hire three industry professionals next month, Kenneth Lench, head of the unit within the Division of Enforcement, told Derivatives Week.

As legislators from the House and Senate head into conference Thursday morning to nail down the details of financial reform, experts say this final step before the bill becomes law could bring some surprises like a strengthened Volcker Rule and tiny tweaks of language that would have a significant impact on the industry.

Standard Chartered has hired Robert Waugh to head up its pensions and insurance asset liability management business out of Hong Kong.

Morgan Stanley has hired Pieter Van Der Schaft as an executive director and head of Asia ex-Japan interest rates strategy in its fixed income research team based in Hong Kong.

Mizuho Securities Asia has hired Yin Wu as head of fixed income and derivatives sales, a new role for the firm.

Correlation across asset classes has rocketed as disparate markets react to sovereign debt problems. The move has some arguing derivative book hedges are going to need to be radically re-hedged somehow. But there is also a camp that sees the spike as short-term background noise that can be ignored.