Derivs - People and Markets

Dan Gallagher, a Republican member of the U.S. Securities and Exchange Commission, said regulators should be willing to review, and even overhaul, the proposed Volcker Rule in light of thousands of comment letters on the measure which “provide powerful evidence that the benefits the proposed rule was designed to provide may come at an unacceptably high cost.”

Vikram Gandhi, former global head of financial institutions group and vice chairman of investment banking at Credit Suisse, has been hired as a senior adviser at Greenhill & Co.

Mirae Asset Global Investments has launched its Dynamic Bond Fund, its first fixed-income offering, which may use derivatives for hedging purposes.

Nomura Holdings has named Koji Nagai as president of Nomura Securities.

North Sea Partners has named Steve Paras as managing director and head of European capital markets, based in London.

Russell Investments has announced it will launch three fixed-income exchange-traded funds—a corporate bond ETF, a semi-government bond ETF and a government t bond ETF.

JPMorgan Chase has appointed Sandie O’Connor, its head of prime services, as the company’s new treasurer.

Denis MacCarthy, head of global synthetic equities sales at UBS in London, has resigned.

Ali Agboatwalla, a managing director in single stock options trading at Royal Bank of Canada in New York, has left the firm to join Bank of America Merrill Lynch in the same position.

Foreign dealers are expected to start joining Japan’s clearinghouse for interest rate swaps after the Japan Securities Clearing Corp. recently detailed plans to cap membership liability payments to the guarantee fund for multiple defaults.

Ilene Froom, an executive director at JPMorgan in New York, has left the firm to join Jones Day, also in New York, as a partner in the firm’s banking and finance practice.

Mike Stewart is said to be planning to leave as global head of proprietary trading at JPMorgan Chase in London to launch hedge fund Whard Stewart in the second quarter.