Derivs - People and Markets

U.K. support services company Babcock International Group’s pension scheme and its Rosyth Dockyard pension scheme plan to enter another longevity swap with either a bank or an insurer in the next month.

London-based structured products specialist Catley Lakeman Securities is considering launching a soft protected 12% auto-call product that might be backed by Deutsche Bank paper.

Five-year credit default swap spreads on Porsche have come in dramatically over the last three days, driven by announcements yesterday that the Qatar Investment Authority has offered to buy a stake.

Gloria Yu, head of structured product sales for private banks in Asia for Credit Suisse, left the bank last week.

Weil, Gotshal & Manges, debtor counsel for Lehman Brothers Holdings Inc., was in U.S. bankruptcy court today seeking a deadline by which derivatives-related claims against Lehman need to be filed.

Structured Investment Management has hired Leona Qi, a v.p. in structured product sales from Nomura in New York.

Markit has introduced a family of sovereign credit default swap indices. Initially, the Markit iTraxx SovX family will comprise a G7 index; a Global Liquid Investment Grade index; a Western European index tracking credit risk across 15 countries, and the SovX CEEMEA, tracking risk in Central Eastern Europe and Middle East and Africa.

Richard Cohen, head of Asia credit trading at Morgan Stanley in Hong Kong, left the firm last week.

Founders of the Parker BlackTree Currency Index expect investors will access the performance of the index through over-the-counter plays, including: total return swaps, option strategies or fully-funded notes.

The U.K. Financial Services Authority is planning to hire specialists in complex financial instruments such as derivatives, collateralized debt obligations and other structured products to help beef up its supervisory team.

Andrew Crane, ex-head of equity trading for Europe, Middle East and Africa at Citigroup, joined HSBC in London in the same role on Wednesday.

Japanese financial names Mizuho Corporate Bank and Mitsubishi UFJ Financial Group gapped out this morning.