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UBS has closed two retail equity-linked instrument products in Hong Kong, following up on the success of last month's decreasing call-strike feature (DW, 12/16).

WestLB has hired Pablo Gradwohl from Bank of New York, where he was head of emerging markets trading, to focus on Latin American credits.

Three credit derivative sales officials covering Iberia at Morgan Stanley in London have left the firm.

Barclays Capital's Kurt Finkbeiner, director and Asian head of equity derivatives in Hong Kong, has left the firm. Finkbeiner transferred from London to Hong Kong in late 2004 to re-start an equity derivatives desk in Hong Kong, and subsequently made several high-profile hires in Hong Kong and Tokyo for the initiative (DW, 9/24/04). The departure is believed to be due to a clash with Dixit Joshi, head of equity derivatives in London. A call placed to Joshi was returned by Nathaly Sidiropoulos, spokeswoman, who declined comment.

The team of Flagship Capital Management, an asset management arm of Bank of America, is merging with Deutsche Asset Management, the global asset management services division of Deutsche Bank, according to a source familiar with the deal.

--Sheldon Sussman, global head of structuring and portfolio management, global financial markets at Rabobank, discussing the firm's hybrid CDO that is pricing this week.

Fraser Sullivan Investment, the firm co-founded by John Fraser and Tighe Sullivan, has launched its first collateralized loan obligation, Fraser Sullivan CLO 1.

The proposed $2 billion debtor-in-possession loan for Calpine Corp. is set to hit the market this week as investors await the final hearing for the company's post-petition financing this Wednesday.

Market participants are laying the groundwork for a solution to the cash settlement of single-name credit default swaps.

Highland Capital Management bought the loan management business of ING Bank, ING Capital Management.

The approximately £85 million second lien for Manchester United has slowly been inching up in trading, sitting between 102.417-103.750 last Thursday, according to Markit.

This chart, provided by Citigroup Global Markets, tracks bid-ask prices for par credit facilities that trade in the secondary market.