Free content

Michael Poppel, a structured credit marketer in the financial institutions derivatives marketing group at JPMorgan in London has left the firm. Poppel could not be reached, but an official at the firm confirmed his departure. It could not be determined who Poppel reported to, or if he has taken a new position. Sarah Oppler, spokeswoman in London, did not return phone messages by press time.

Barclays Capital has signed up Lee Richardson, a director in credit-default swap trading at Bank of America in London. Reached on his cell, Richardson declined comment. Officials said he will be joining as a director reporting to Kai Seeger, European head of CDS flow trading in London. Seeger referred calls to spokesman Kerry Kennedy, who did not comment by press time.

Dillon Read Capital Management, the alternative investment business of UBS, has hired JPMorgan's global head of proprietary trading. Aziz Nahas told DW he will join Dillon Read as global head of equities, reporting to John Costas, ceo. A call to Costas was transferred to UBS' marketing group, which did not immediately return a message.

UBS has made a senior hire for its equity derivatives desk in Hong Kong to cover corporates.

Wachovia Securities International has hired three senior equity derivatives traders in London.

WestLB's head of fixed income sales ex-Germany has left the firm.

Goldman Sachs has hired Merrill's head of structured credit sales to Europe, the Middle East and Africa.

At least one general partner of INVESCO Private Capital has left and others, including Parag Saxena, managing partner, are expected to leave soon. Saxena, Alessandro Piol, general partner, and Howard Goldstein, general partner, offered their notice in the fall but have continued working.

Dana Corp.'s five-year credit default swaps widened to 2414 basis points last week, capping a 1144 basis point widening before the company filed for bankruptcy last Friday.

Ping pong players prepare! Credit Suisse traders Bob Franz and Barry Zamore claim to be the reigning paddlers in the loan market.

A steady flow of new money coupled with a lack of new deal flow is driving recapitalization deals in Europe.

--Herman Guelovani, a portfolio manager at NIB Capital Bank, regarding an increase in recapitalizations in Europe.