Derivs - People and Markets

Morgan Stanley has reportedly hired Rob Hewitt, the former head of Asia ex-Japan equity derivatives flow trading at Credit Suisse in Hong Kong.

BNP Paribas is looking to team up with a U.S. bank that has a platform for issuing certificates of deposit. The French bank is in the process of finding a partner that will allow it to distribute the CDs itself.

Sen. Chris Dodd (D-Conn.)’s financial reform proposal, released today, would force alternative swap execution facilities to make public timely information on over-the-counter derivatives pricing and trading volumes.

Michael Nelskyla, a managing director in structured product sales at Royal Bank of Scotland in London, has relocated to oversee structured products sales in Stamford, Conn.

The U.K. Financial Services Authority today said it should be up to European exchanges, not regulators, to decide which over-the-counter derivatives are eligible for central clearing.

Firms who trade over-the-counter derivatives hit out at the lack of clarity from regulators at the Futures and Options World derivatives conference in London this morning.

Swiss Re is preparing to outsource USD23 billion in proprietary credit investments to third-party asset manager BlackRock Solutions.

Retail customers of Meteor Asset Management could lose millions on soured Lehman Brothers-linked investments after the U.K. Financial Services Authority this morning declared that the structured product providers’ marketing practices met its standards and it will not need to offer compensation.

Romain Garagnon, head of equity derivatives structuring at Bank of America Merrill Lynch in London, has joined Citigroup, and brought with him senior structurers Benjamin Telle and Nerraj Chaudhary.

Rena Huang, a saleswoman focusing on fixed-income derivatives into China, has left Goldman Sachs for Nomura’s office in Hong Kong, where she will cover Chinese financial institutions sales.

Morgan Stanley is said to be putting together a synthetic collateralized debt obligation.

Collateralized debt obligation structurers are likely to think twice before using swap counterparties in different jurisdictions after a U.K. Court of Appeal ruling on a CDO called Dante this morning.