Derivs - People and Markets

Stream Capital, the Geneva-based advisory and execution firm, has hired Fabrice Toledano, a former director in mutual fund and hedge fund structuring in London, as a director focusing on structured credit.

Westpac has hired Alex Tam, former regional head of business development, Asia Pacific, global trade and receivables finance at HSBC, and Steven Yu, the ex-head of trade finance and cash management corporates at Deutsche Bank, to new roles in Hong Kong.

Jalal El Hazzat, ex-head of interest rate swaps trading at BNP Paribas in New York, has reportedly left the firm.

Bank of America Merrill Lynch has hired Alan Skandan, the former global head of equity derivative sales, hedge funds and alternative asset managers, at Crédit Agricole CIB, as a managing director in equity derivative sales in New York.

Arran Rowsell, ex-managing director and head of emerging Europe, Middle East and North Africa flow credit trading at Barclays Capital in London, has reportedly left the firm.

James Kelly, a former managing director at Goldman Sachs in derivatives sales management for U.K. clients, institutions and hedge funds, has joined the U.K. Financial Conduct Authority as an advisor in the wholesale banking and investment management division within supervision.

Greg Kuppenheimer, head of U.S. equity derivatives sales at Deutsche Bank in New York, has left the firm.

Sixty-five percent of market participants expect the European Commission to provide companies a relief mechanism for compliance with European Markets Infrastructure Regulation, a week before reporting to trade repositories kicks off Feb. 12.

The introduction of swap execution facilities combined with reduced activity by investment banks impacted the performance of global broking in the fourth quarter of last year, according to ICAP.

Michael Ettinger, the ex-head of interest rates trading at Credit Suisse in New York, has joined UBS to head up its client agency execution services desk, also in New York.

Insider trading and market manipulation are punishable as criminal offences under the Market Abuse Directive, following an agreement between the European Council, European Parliament and European Commission.

Pascal Hery, head of equity derivatives and convertible sales for Europe at Barclays in London, has left the firm.