Derivs - People and Markets

Craig Donohue has announced that he will step down as ceo of CME Group at the end of the year when his contract expires.

Citigroup has shaken up management of its equities trading division with Simon Yates promoted to head equity derivatives for the Americas and Daniel Keegan to lead global cash equities.

Joe Cassidy is leaving as head of rates prime brokerage and over-the-counter clearing at Deutsche Bank to become head of ecommerce and OTC derivatives at Lloyds Banking Group’s wholesale division.

Merrill Lynch has agreed to pay a $500,000 fine to settle claims that it failed to have effective supervision of its total return swaps business.

Cleartrade Exchange has launched its Cleartrade Market Data Service, which aims to provide a combination of over-the-counter swaps-related market data to be distributed by the major data vendors to banks, trading organizations, brokerages and analysts.

Few institutional investors are said to be prepared to adopt new regulations for over-the-counter derivatives and instead are relying on banks and brokers to assist them in adapting the measures, according to a survey by Rule Financial, a capital-markets consultancy.

Northern Trust has named Nigel Tyler as a senior index equity portfolio manager. Based in London, Tyler previously was a senior portfolio manager for global equity beta solutions at State Street Global Advisors.

Bank of America Merrill Lynch has lost six debt bankers, including Jimmy Chois, head of high yield for Asia; Kang-Jae Kim, a director covering Southeast Asia in Singapore; and Leonard Ng, a v.p.

Deutsche Bank has named Jeffrey Bunzel as managing director and head of equity capital markets for the Americas.

Fitch Ratings has released an exposure draft of the criteria it used for analyzing counterparty risk in structured finance transactions.

Icap has restructured its electronic trading business, with David Rutter leaving as ceo.

VTB Capital has recently hired Barin Yucemen as global head of fx and rates in London.