Derivs - People and Markets

HSBC has appointed Andrew Porter as head of debt capital markets for Canada.

Legal & General has launched the 6 Year Growth Deposit Bond 14, a capital-protected structured plan that offers 9% at maturity.

Paul Volcker said market making should not be equated to proprietary trading, responding to comments at a Senate hearing that regulators are considering whether to apply a ban on proprietary trading under the Volcker Rule to market making.

French bank Natixis has said it will shut its commodities trading division and already has wound up its Natixis Commodities Market.

Barclays has named Sharon Quinlan as head of structured property debt finance in London.

HSBC has named Melvyn Ford head of prime services for Asia.

Penserra Securities has hired Donald Chisholm and Robert Wade as co-heads of debt capital markets as members of corporate bond team.

Christian Bittar, managing director and head of money market derivatives at Deutsche Bank in Singapore has left the firm.

Moody’s Investors Service said Wells Fargo Securities’ acquisition of prime brokerage Merlin Securities as part of an expansion into capital markets is credit negative.

David Clark, chairman of the Wholesale Markets Brokers’ Association, said in an interview that the derivatives industry is waiting for global regulators to decide the “magic numbers” as part of reform of the market: how much capital banks must set aside to cover exposures on trades at clearinghouses, and the margins banks must post on uncleared transactions.

Former Deutsche Securities banker Ryo Ishiyama has announced that his Tokyo-based Steinberg Capital plans to launch a hedge fund that will invest in global commodities futures as soon as July.

iShares has added eight single-country fixed income exchange-traded funds with exposure to Austria, Belgium, Finland, France, Germany, Italy, Netherlands and Spain.