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Rabobank is launching a hybrid-derivatives trading and sales desk and has hired Mike Weber, a former partner at hedge fund Eriswell Capital, with USD140 million under management, to head the operation.

Two senior credit derivatives staffers at The Royal Bank of Scotland have quit the firm.

Rabobank has also revamped its structuring business in London, bringing credit, rates, interest rates and fx under the one umbrella.

--Aditya Rana, executive director at Morgan Stanley in Hong Kong, referring to an uptick in demand for equity tranches of synthetic collateralized debt obligations, as range-bound spreads make the first-loss tranche more attractive to investors.

Two senior credit derivatives staffers at The Royal Bank of Scotland in London have quit the firm.

Eric Glicksman, former head of equity structured products at Wachovia Securities in New York, has resurfaced at Citigroup.

JPMorgan Asset Management is launching a collateralized debt obligation business in London.

John Godden, the well-known head of HFR Asset Management's European business and a regular on the conference circuit, has quit the firm. As first reported by DW's sister publication Alternative Investment News last Monday, it is likely that Godden's position will at least initially be filled by Marc Denogent, executive v.p. Denogent did not return a call.

Collins & Aikman bonds fell seven points on fears that the proposed joint venture between Lear Corp. and WL Ross & Co., which would combine Lear Corp.'s European interiors business with Collins & Aikman's European business, would fall apart.

Banks are hustling to ramp up portfolios of investment-grade credit-default swaps after a change in Standard & Poor's methodology injected value into higher-rated tranches of collateralized debt obligations.

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

Investors looking to catch up on their gossip had to look no further than the bank meeting last Tuesday for American Media.