Derivs - People and Markets

A flurry of credit derivative novations, or the reassignment of trades to a third counterparty, surrounded Bear Stearns in the run up to its takeover by JPMorgan.

Antoine Lebacq has rejoined Merrill Lynch after just under a year with Morgan Stanley.

Russia’s increasingly sophisticated institutional investors are turning to complex structures such as variance swaps and options with knock-in or knock-out barriers.

Attorneys think Merrill Lynch will likely prevail in its lawsuit against XL Capital Assurance, after the monoline cancelled USD3 billion in protection it had sold Merrill on six collateralized debt obligations.

FASB has amended an accounting standard to increase transparency and disclosure of U.S. entities' derivatives positions.

Hedge funds are starting to request dealers post collateral.

For over 20 years Ian Kerr’s writing was the must-read of the capital markets. Provocative, funny and thoughtful by turns, he managed to inject fun into markets and situations both triumphant and disastrous. Michael Halls reflects on his style and offers samples of his different voices.

It was a black day for the capital markets when last Thursday we lost Ian Kerr, who had commented on the markets since the 1960s and become their pre-eminent gossip columnist. Ian’s many friends will mourn a warm, delightful and deeply kind person; some of his targets will breathe easier; all in the capital markets will miss a voice that gave them the fullest — and funniest — reflection of their business available in print. EuroWeek honours a man who came to epitomise the markets he loved. By Jon Hay

The service will be held at 2pm at Chelsea Old Church in London. The church is at the corner of Old Church Street and Cheyne Walk. The nearest tube station is South Kensington. Buses include 11, 19, 22, 49, 239, 319 and 328, according to the church's website.

The confirmation this week that ABN Amro and Barclays Bank were in preliminary merger talks set the capital markets abuzz this week, as market participants contemplated the first merger of two really big international investment banks since JP Morgan combined with Chase.