Free content

Dresdner Kleinwort Wasserstein has moved its Tokyo-based Asia ex-Japan credit derivatives trading operation to Singapore as part of an on-going effort to build its capital markets presence in the Lion City (DW, 9/22).

Arang Varadhachary, head of credit derivatives trading at Lehman Brothers in New York, has joined Deutsche Bank’s proprietary credit derivatives desk.

Credit-default swap volumes in contracts referenced to French hotels group Accor jumped last week as market participants traded either side of its end-of-year results released on Wednesday.

The pension fund of airport operator BAA, with GBP1.4 billion (USD2.57 billion) in assets under management, is considering managing currency exposure on its equity portfolio for the first time.

Barclays Capital has hired Guglielmo Sartori D'Borgoricco, managing director and co-head of U.K. and European distribution at Credit Suisse First Boston, as a managing director and head of distribution for U.K. and continental Europe in London.

Derivatives shops, including JPMorgan, Deutsche Bank and BNP Paribas, are starting to market options on tranches of synthetic collateralized debt obligations, according to officials at the firms.

Abby Flamholz, head of convertible bond trading at Banc of America Securities in New York, has left the firm.

Banc of America Securities has hired Rakesh Kadakia, chief investment officer at convertible arbitrage hedge fund Wolverine Asset Management, the hedge fund arm of Wolverine Trading, as a convertibles trader.

Citigroup last week hired Patrick Law, interest rate derivatives trader at Fortis Bank in Hong Kong, for a similar role handling Hong Kong dollar denominated instruments.

Credit Suisse First Boston is pumping up its proprietary trading operation and has hired Alexander Soloviev, a convertible arbitrage trader at Lehman Brothers in New York.

As more investors have started looking at hedge funds the methods of gaining exposure have also increased.