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Morgan Stanley has hired Andy Baehr as executive director of derivative sales, reporting to Adam Langsam, head of derivatives sales, in New York.
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GFI Group has hired Julien Sida, formerly of dealer-broker MIS, as a credit derivatives broker in London reporting to Julian Swain, head of credit.
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Morgan Stanley has hired Dries Bruyland, an associate in derivative marketing to Netherlands at JPMorgan in London, as a senior associate in its financial institutions, debt capital markets group.
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Issuance of synthetic notes employing a long/short strategy on credit are soaring on the back of Standard & Poor's introducing a model that recognizes the benefit of the short bucket in offsetting defaults. -
The Royal Bank of Scotland has hired Sandra Wong, a collateralized debt obligation structurer and deal manager at Citigroup in London, as European head of managed CDOs.
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Credit-default swap protection on Rentokil 1927, one of the two entities comprising U.K services company Rentokil Initial 1927, swooped by more than 30 basis points last week.
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Two members of a fund derivatives team tapped from Bank of America last year have left SG Corporate & Investment Banking.
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Scotia Capital, the investment banking arm of Canada's Scotiabank, is revving up its newly-minted credit structuring desk in Asia and recently rolled out a managed collaterized debt obligation deal.
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Traders scrambled to buy short-term, downside New Zealand dollar and Australian dollar puts against the greenback last week as spot swooned and volatilities popped.
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Insurance companies have been buying back-end puts on U.S. equity indices to hedge variable annuities, while hedge funds have been selling front-end calls to exploit low realized volatility and low interest rates.
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About 12 years ago, the typical product range on offer to private banking clients consisted of:
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Philip Tsao, Asia-Pacific regional co-head of debt capital markets and head of fixed income derivatives at UBS in Hong Kong, has left the firm and is joining a Taipei-based domestic bank as president in mid-April.
