Derivs - People and Markets

Lazard has hired Glenn Porritt as managing director and head of investment banking in Singapore.

Morgan Stanley has teamed up with Incapital Europe to launch the Accumulator, a six-year structured deposit plan linked to the performance of the FTSE 100.

Citigroup has appointed Tony Osmond to replace Chris Knoblanche as head of global banking for Australia and New Zealand.

Mariana Capital Markets has hired Gary Powell, an ex-senior partner and head of single stock broking at Vantage Capital Markets in London, to head up interdealer broking, also in London.

Indian insurance regulator the Insurance Regulatory and Development Authority is stymieing the use of derivatives for hedging purposes and should move to open up the market to insurance corporate users, according to market officials.

Blackrock’s iShares Exchange Traded Funds is launching seven new fixed-income ETFs.

Morgan Stanley is said to have added Sophie Barnett, head of European structured product marketing, and other member of its equity derivatives team to consult on redundancies that could result in elimination of jobs.

Privalto, BNP Paribas’ OEIC unit, is planning to introduce a range of capital-protected products in the second quarter, though some observers noted that there has not been a great demand for such products recently.

Dahlman Rose has hired William Herbert as director of research.

Kirtes Bharti is said to have left as director of equities and prime services at Credit Suisse.

UBS is promoting Paul Hamill to managing director of matched principal trading effective March 1.

NYSE Liffe has proposed new rules for overseeing the London commodity contracts, which will feature delivery limits in an effort to prevent large-scale deliveries of the past.