Derivs - People and Markets

Macquarie Group is preparing to launch an emerging markets credit trading desk in London, and has hired two senior traders from Citigroup to lead the charge.

Deutsche Bank has named Rob Ebert, head of institutional equity sales in the Americas, to the same role covering Asia ex-Japan out of Hong Kong.

BNY Mellon is exercising a new internal strategy to cross-sell more post over-the-counter trade services, such as reporting and collateral management.

Morgan Stanley is showing selective clients a collateralized synthetic obligation. The deal was originally marketed in the fourth quarter and then shelved.

Senators Jack Reed (D-R.I.) and Judd Gregg (R-N.H.), the duo who have been working on a bipartisan amendment to Senator Chris Dodd’s (D-Conn.) over-the-counter derivatives reform bill, are expected to have an input in the legislation before it goes to a vote on the Senate floor.

Chris Lee, head of equity risk management product intermediary sales for UBS in Hong Kong, left the firm Monday.

The Malaysian Securities Commission is considering expanding retail access to structured products, despite the Lehman Brothers mini-bond debacle that scared off many Asian investors.

Karen Fang, a managing director in cross-asset-class structured products at Goldman Sachs in New York, has left to join Bank of America, reportedly as head of client solutions.

Structured products providers and firms selling life settlement-linked investments should create a rescue fund to reimburse investors for collapses like the one suffered by Keydata Investment Services, according to Geoff Hartnell, an independent financial advisor and member of Keydata’s creditor committee.

UBS has hired three Deutsche Bank credit traders to work under Anatoly Nakum, head of U.S. investment-grade trading in Stamford, Conn.

Andrew Bown, a senior fx options trader at Barclays Capital in London, has left the firm and is widely tipped to take up a similar position at Deutsche Bank.

In the newly released report of Lehman Brothers’ final hours, court-appointed examiner Anton Valukas says that Lehman may have legal ground under the safe harbor provisions of the U.S. Bankruptcy Code to undo a guaranty promising JPMorgan USD8.6 billion in collateral.