Derivs - People and Markets

Citigroup has merged its equity and fixed income structured products groups in North America and Europe to streamline marketing efforts.

Sasha Diklich, a senior equity derivatives trader at Deutsche Bank in London, left just over a fortnight ago.

Angela Papesch, a director of policy at International Swaps and Derivatives Association in Asia and head of its Singapore office, has left the group.

Calyon’s executive director and head of structured credit sales for Southeast Asia, Sam Shui, has left the bank in Singapore.

The Bush administration’s decision to lend USD17.4 billion to automakers General Motors and Chrysler has brought about a legal question as to whether the event will trigger credit default swaps on the names.

Broker/dealer The Seaport Group has hired four salesmen from the Winter Group. Shari Korn, Laura Schwartz, Maddee Kassimir and Tom Berger joined the firm as managing directors working on the New York-based firm’s structured products desk.

Seer Capital, a New York-based securitized products hedge fund, has hired Dave O’Brien as a director to analyze residential mortgage credit.

The International Swaps and Derivatives Association has applauded the Reserve Bank of India’s plans to introduce credit default swaps to India next year, but has questioned its move to allow CDS only as an exchange-traded product.

Edwin Wong, the former head of special situations and head of credit at Lehman Brothers Asia, has set up his own shop called SSG Advisory Services, which is looking to launch its maiden hedge fund within the next month.

Greg Tournant and Trevor Taylor have joined Oppenheimer Capital as portfolio managers for the firm’s four spread-based investment strategies, a component of its structured products group for institutional investors.

DWS Investments, the mutual fund arm of Deutsche Bank, has issued four structured notes with 10-15% buffers, noting increasing demand from the retail market for investments with capital protection.

Fred Clatworthy, head of international equity derivative trading at Nomura in London, has left the firm.