Derivs - People and Markets

Deutsche Bank has hired Dario Villani as managing director in credit trading in New York to manage a team that will focus on the bank’s correlation risk.

Angus Dobbie, head of sales and structuring for equity derivatives in the Americas at Macquarie Group, left his post in New York last month.

Pat Augustine has joined Swiss Re in New York as its head of structured credit and securitized products.

Barclays Capital has purchased licenses that allow it to structure investments, such as forwards and total return swaps, referencing U.S. residential and commercial real-estate indices.

The International Swaps and Derivatives Association is in the final stages of drawing up a protocol that will see all signatories adopt the close-out approach for early contract termination with a defaulted counterparty as envisaged in the 2002 Master Agreement.

Loan-only credit default swaps referencing Allied Waste Industries are scheduled to be terminated and the name removed from the LCDX Jan. 27, according to index traders.

New York-based interdealer broker BGC Partners has hired Deval Bhalja for cash and synthetic collateralized debt obligation sales.

Credit default swap spreads on homebuilder Lennar blew out today on sweeping allegations of fraud posted on frauddiscovery.net. Spreads went to 630 basis points from 530 bps Jan. 7.

Merrill Lynch recently added Roshan Gaonkar to its New York-based structured credit desk.

Len Ellis, head of equity derivatives in the Americas for Citigroup in New York, has left the bank.

The Hong Kong Monetary Authority issued a report Thursday that includes the recommendation that “health warnings” be attached to retail products containing derivatives.

Boaz Weinstein will be staying on at Deutsche Bank until early into the second quarter to help the bank wind down its proprietary credit trading desk, after deciding to leave the bank to set up his own shop.