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Two credit derivative salesmen have left SG Corporate & Investment Banking in London: Piet Helmer-Gregersen, who marketed credit derivatives to Scandinavian clients, and Michael Koller, who covered Switzerland. Both reported to Jason Garrett, head of credit sales in London. Garrett and Michelle Gathercole, SG spokeswoman, did not immediately return calls.

Bank of America's head of Northern European credit sales has left the firm.

Dura Operating Corp's bankruptcy will serve as the first test for The International Swaps and Derivatives Association's new credit defaults swap protocol.

Wachovia Securities today reportedly laid off at least 60 people across equity derivatives groups, including listed options sales and trading, convertible bonds and equity finance.

Goldman Sachs has hired Henry Flowers from Merrill Lynch as a v.p. in structured equity solutions.

Aladdin Capital Management has hired John Brewer and Tim Goodale, principals at Fusion Asset Management in London, and will absorb the Fusion Relative Value Credit Fund and rename it the Aladdin Relative Value Credit Fund.

The $8.8 billion term loan backing the leveraged buyout of HCA came to market last week with a big bank meeting, surprisingly little fanfare and an early call for better pricing.

It takes a lot of energy to keep a bank running ­ and a lot of air conditioning to keep bankers cool underneath those stuffy suits (not that anyone wears suits anymore).

Doug Bender, managing director at Bethlehem, Pa.-based McQueen, Ball & Associates, said his firm is looking at areas where he thinks there may be some overlooked value in the market.

Morgan Stanley has hired Frank Iacono from Lehman Brothers to lead its newly launched Cournot Capital, a principal investment affiliate that will target structured credit, according to an official.

Investors struggled with how to treat the Deutsche Bank-led $1.5 billion asset-based deal for Toys 'R Us which was backed by $2.4 billion of unencumbered real estate assets.

Resource Europe Management is currently warehousing its first collateralized loan obligation and is expected to price the deal in the first quarter of 2007.