Derivs - People and Markets

Structured credit products chalked up the biggest chunk of trading losses for investment banks in the U.K. over the financial crisis—more than 70% of the total against 13% for prop trading and 3.46% for equity derivatives.

The International Swaps and Derivatives Association and Bahrain’s International Islamic Financial Market today published the first master agreement for Shariah-compliant derivatives.

Credit Suisse recently relocated Cameron Hedger, head of fund-linked derivatives for Asia ex-Japan, to London to be deputy co-global head of fund-linked products alongside Mounir Elarchi.

Matthew Nadel, the head of equity derivatives at Bank Hapoalim, has left the Israeli bank for Société Genéralé and two other senior staffers have defected to Nomura Securities.

Royal Bank of Scotland will pay a portion of bonuses to senior management and key risk management staffers through three-month subordinated notes that can be converted to cash in June this year, according to headhunters. The rest of the payout will be in RBS stock.

We've got Werner Langen’s draft policy paper on how to achieve an efficient, safe and sound derivatives market in Europe. It was released on Feb. 11 in German, but has just been translated into English. Langen is a member of the European Parliament for Germany and a member of the Committee on Economic and Monetary Affairs.

UBS has hired two senior Goldman Sachs derivatives pros in Asia.

Jan Cernohorsky, head of fx options product development at Commerzbank in London, left the firm a few weeks ago for reasons that could not be determined.

David Wainer, a partner specializing in derivatives and securitization at Allen & Overy in New York, is relocating to London with the firm as of Monday.

Swiss private bank Lombard Odier has hired Kevin Corrigan, former London-based v.p. and select portfolio manager of European and global credit at Goldman Sachs Asset Management.

Malaysia was left relatively unscathed in the wake of the Lehman Brothers minibond debacle that hit other Asian nations, but Datuk Ranjit Ajit Singh, managing director of market supervision at the Securities Commission Malaysia still has plans to improve transparency in the nation’s financial markets.

Institutional and retail investors who invested this time last year in callable yield notes referencing multiple indices have pocketed millions in recent weeks, following banks’ announcements of their 2009 profits.