Derivs - People and Markets

Discussions between Trust Association of Republic of China—which represents trust banks in Taiwan—and structured product providers concerning the drafting of the Master Agreement for Structured Securities have reached an impasse, industry officials fear.

Allen & Overy partner Paul Cluley is relocating to the firm’s London office within a month from Hong Kong.

Marcus Hurst has joined SG Corporate & Investment Banking in London.

BNP Paribas has hired Adnan Zuberi as a director in its structured credit business.

Two managing directors in Fitch Ratings’ structured credit group, Mia Koo and Alan Dunetz, have recently left the agency.

The International Swaps and Derivatives Association is considering forming a working group to tackle buysider worries about its so-called close-out amount approach for early contract termination with a defaulted counterparty.

Asia headhunters are circling Calyon equity derivatives staffers in the midst of market rumor the French bank intends to close its Asia unit down, despite clear denials from the firm.

ABN AMRO’s head of structured credit and alternative derivatives marketing for Asia Pacific, Chris Hodgeman, is set to head up Royal Bank of Scotland’s structured credit and alternatives business in Hong Kong once the merger has been completed.

Ron D’Vari, head of structured finance at BlackRock, has left the firm to work on a joint venture to restructure failed real estate investment trusts and mortgage originators.

Wahid Chaudhry, a former equity derivatives trader with Deutsche Bank, is tipped to land at Lehman Brothers in London as the firm’s head of index exotics trading.

Frank Copplestone, the ex- head of equity derivatives structuring for Asia at Deutsche Bank, is poised to land at Morgan Stanley as its European head of equity derivatives structuring.

Yuri Sugiura is set to join Standard Chartered’s Tokyo-based operation to head up equity derivatives distribution for Japan.