Derivs - People and Markets

Morgan Stanley has launched a trio of new structured products: the Morgan Stanley Defensive Bonus Plan, the Morgan Stanley FTSE Protected Growth Plan 47 and the Morgan Stanley FTSE Booster Plan 4.

Nomura has appointed Michael Kurtz as global head of equity strategy. Kurtz succeeds Ian Scott, who held the titled global head of equity strategy and quantitative research.

BNP Paribas has hires Andrew Dawkins to fill a new role as a managing director in delta one and international derivatives sales for the Americas in New York.

Barclays Capital is said to have reduced its investment-banking staff in Asia by 13 in recent weeks because of a slowdown in deal making in the last few months of 2011.

Citigroup has named Rodney Tsang and Roger Zhu as co-heads of corporate and investment banking in China.

IntercontinentalExchange said it plans to expand its clearing services to include over-the-counter non-deliverable forward fx contracts, beginning in the second quarter.

IntercontinentalExchange has announced that it will launch a new execution-to-clearing workflow for over-the-counter swaps that supports credit risk management, known as Plus One.

Steven Phan, former global head of HSBC’s investments, access and solutions group in London, has joined Standard Chartered in Hong Kong.

Deutsche Bank is said to be planning to eliminate 1,000 jobs from its corporate and investment bank, with most of the cuts in its non-German European and Asian operations.

Eurex and the Singapore Exchange have teamed up to link their co-location data centers to give derivatives market participants easier and less expensive access to each other’s derivatives products.

Invesco and Pimco have added derivatives to target-date funds to better compete with Fidelity Investments and Vanguard Group.

Nomura is said to be considering eliminating 30 managers from its fixed-income business, including Kieran Higgins as co-head of fixed income for Europe, the Middle East and Africa, and Peter Hornick, head of fixed income sales for the Americas, as part of its plan to reduce costs by USD1.2 billion globally.