Derivs - People and Markets

JPMorgan has expanded its investment-banking operations in India with the hiring of Sidharth Punshi as managing director.

Structured products market participants have asked the Committee of European Securities Regulators, now the European Securities Market Authority, to extend its proposed maturity limits of structured Undertakings for Collective Investments in Transferable Securities (UCITS) funds.

Marcus Overhaus, the ex-head of quantitative research and equity structuring at Deutsche Bank, and Ricardo Honegger, the ex-head of global markets and global banking for the Middle East and North Africa region, also at Deutsche Bank, have joined UBS in new roles, according to an internal memo.

The International Swaps and Derivatives Association is creating a working group to discuss the possible creation of so-called master bridge agreements that would create some kind of framework to connect clearinghouses even if full interoperability is not yet possible.

Michael Jinn, co-head of European credit structuring at UBS in London, has left the firm.

London-based hedge fund Chenavari Investment Managers plans to put to work EUR50-100 million (USD67-134 million) in a structured finance and corporate credit strategy in either its own fund or as part of a multi-strategy fund this quarter.

Timothy Last, managing director and head of equity derivative flow sales for Asia ex-Japan at Barclays Capital in Hong Kong, has left the firm.

Rohan Tawadey, the ex-head of private banking sales for structured products at Barclays Capital in London, has joined Citigroup to head up its U.K. and Ireland sales team covering wealth based products and structured products across all asset classes, also in London.

A thicker shroud than usual surrounds the topic of bonuses this year as the banking industry waits to see how the European regulators’ ire will play out.

A host of officials working in Barclays Capital’s fx, equity and rates teams were cut over the last few days, including some senior employees working on the firm’s derivative desks, according to market officials.

Credit Suisse has named Mark Burrows as vice chairman of investment banking for Asia Pacific.

Proposals by the European Commission to write down or convert bank debt to recapitalize failing banks could make the debt not deliverable into current credit default swap contracts or cause buyers of protection to miss out on having events declared credit events.