Derivs - People and Markets

Joseph Bryan, a senior index options trader covering the DAX at Morgan Stanley in London, has left the firm and is tipped for a similar role at UBS.

Naseem Haffar, former head of distressed and loan sales at JPMorgan, has been hired as U.S. head of loan sales and trading at Société Générale as the bank looks to expand its credit, rates and foreign exchange businesses in the U.S.

Regulatory supervisors in Europe and the U.S. should resist the extensive lobbying of banks when trying to overhaul the over-the-counter derivatives market, according to Fraser Cowie, executive director of global business development for NYSE Liffe.

Dealers are trashing trade union claims they are making big bucks off munis entering floating-to-fixed interest rate swaps.

A key task this year for China’s National Association of Financial Market Institutional Investors is the development of better credit risk management tools, said Guanghua Feng, deputy secretary of NAFMII, in a keynote address at Euromoney Seminars’ 7th Annual China Derivatives Summit in Beijing on Thursday.

Only around 80 institutions have signed up to the National Association of Financial Market Institutional Investors’ master agreement since its launch last March (DW, 3/18/09).

David Herzberg, global head of equity derivatives at JPMorgan in London, left the firm this morning.

The USD22.1 billion University of Texas Investment Management Company has retained PIMCO for an USD836 million fixed-income mandate, after a review by the UTIMCO board led to a policy change that now requires staffers to control managers’ ability to use derivatives.

Five-year credit default swaps on Dubai sovereign debt pulled in dramatically this morning on the back of government support for the USD23.5 billion restructuring of state-owned Dubai World.

The European Commission is collecting data from retail investors and financial institutions as it contemplates a requirement for issuers to disclose their hedging practices when marketing structured products.

Credit Suisse has applied for approval to distribute a retail structured product onshore in Taiwan.

The Depository Trust & Clearing Corp.’s warehouse for credit derivatives data has changed its policy for disseminating information to global regulators by starting to release counterparty information on credit default swaps trading, even without user consent.