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ABN AMRO's Rupertus Rothenhaeuser, head of the private investor group in Hong Kong, is joining DWS Investments, the asset management arm of Deutsche Bank.

Crédit Agricole Asset Management, the French fund manager with EUR355.1 billion in assets under management, and BNP Paribas are preparing a second tranche of their European capital-protected credit fund Dynamo and looking to raise USD200 million.

Ramesh Menon, Citigroup's head of U.S. structured products, is suing the firm for racial and national origin discrimination, and singled out Jim Forese, global head of equities, and Joseph Elmlinger, global head of equity derivatives, as the two individuals responsible for allegedly creating an environment that favors white males over minorities and women.

BNP Paribas is setting up a cash collateralized debt obligation business in New York, which will complement its existing synthetic CDO operations.

Pierre-Henri Denain, a managing director and head of French fixed-income sales at Citigroup in France, has left the firm.

The price of protection on the European iTraxx Crossover index fell last week, after an equity market rally fed market confidence through to the credit sector and pushed spreads on the index tighter.

Philippe Lacour, index equity derivative trader at Deutsche Bank in London, has left the firm.

Dublin-based Harbourmaster Capital, an investment manager running EUR4 billion (USD4.79 billion) in assets, is gearing up to manage a EUR500 million (USD600 million) collateralized loan obligation.

The credit market was gearing up to test out cash settlement of credit derivative indices last week.

The U.S. dollar gained steadily against the yen in the spot market last week, prompting solid demand for dollar/yen upside options.

More than 200 CDO professionals congregated at the Fairmont in Monte Carlo last week for Opal Financial Group's 2005 European CDO Summit.

A plethora of CDO managers have entered the synthetic market, both as arrangers and third-party administrators.