Derivs - People and Markets

Royal Bank of Scotland has kept its investors products and equity derivatives business intact in its latest restructuring, though it will sell or close cash equities, corporate broking, equity capital markets and mergers and acquisitions units.

Macquarie is reviewing its European structured products and exotics business and may close it down.

Goldman Sachs has appointed Hsin Yue Yong as co-head of investment banking for Southeast Asia with Brooks Entwistle, who has been running the unit solo.

The potential for regulatory arbitrage over margins for contracts that are not centrally cleared, such as fx derivatives in the U.S., is a serious issue, according to Steven Maijoor, chair of the European Securities and Markets Authority.

Jon Fraade, a managing director in the commodities index structuring group at UBS in Stamford, Conn., has left the firm and joined JPMorgan Asset Management as a portfolio manager.

­Members of the European parliament are undecided over the makeup of a potential E.U. financial transaction tax and whether it would benefit or damage the economy.

Credit Agricole Corporate and Investment Bank named Frederic Truchot as head of fixed income markets for Americas as of Feb. 2, replacing Francois Deroche, who has been promoted to senior regional officer for the Americas region and U.S. senior country officer.

Falguni Nayar has left as head of investment banking and institutional equities at Mumbai-based Kotak Mahindra Group to pursue new ventures.

Sal Naro, a former co-head of global fixed income at UBS, has launched Coherence Capital Partners, a fixed-income boutique based in New York.

Société Générale Corporate & Investment Banking has named Inès de Dinechin to succeed the departing Laurent Seyer as ceo of Lyxor Asset Management.

Noble Group has appointed Yusuf Alireza, most recently co-president of Asia ex-Japan at Goldman Sachs, chief executive officer and a member of the board of the company.

Kevin McGoldrick, managing director and head of equity derivative flow sales at UBS in Stamford, Conn., has left the firm.