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UBS last week named co-heads to manage its Japanese equity business: Andrew Hunter, global head of Japanese equity distribution, and Taichi Takahashi, head of Japanese equity trading.

Bob Lenk, managing director in fixed income exotics trading at UBS in Hong Kong, has left to launch a financial firm.

JPMorgan is recommending a ratio Thai baht call spread to take advantage of further appreciation against the U.S. dollar.

Lawyers and dealers have been checking up on documentary provisions for equity derivatives linked to Apple, since Nasdaq warned the stock may be delisted because of a delay in its quarterly filing.

Kevin Corgan, executive director in high-yield cash and credit derivatives trading at Morgan Stanley in New York, has left the firm. He is tipped to join JPMorgan in October as head of high-yield trading, but was on gardening leave and could not be reached for comment.

Beth MacLean, formerly director and portfolio manager at Nomura Corporate Research and Asset Management, left the firm and has joined Lord Abbett & Co.

Bear Stearns has hired Brad Mazur, managing director in credit derivatives structuring and marketing, from JPMorgan in New York.

Royal Bank of Scotland is expanding its equity derivatives presence in Asia following a senior hire.

UBS last week named co-heads to manage its Japanese equity business.

Schroder Investment Management in London is considering rolling out an income-generating U.K. equity fund to other equity markets. Richard Lloyd, head of structured investments, said the manager does not have any specific plans as yet but he noted the fund—which combines stock-picking with selling at-the-money calls—could work well with European or even global equities. Dubbed the Income Maximiser, it has raised GBP35 million (USD66 million) since launch in November.

Option-implied credit volatility is following the lead of high-grade and high-yield credit spreads and drawing in to three months lows. This is despite the credit markets being hit by economic and political pressures including interest rate uncertainty, political turmoil in the Middle East and high oil prices.

Morgan Stanley in New York has priced the equity-default swap portfolio it has been marketing for the last two months.