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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

David Steel, senior v.p., and Martin Palmieri, v.p., in the collateralized debt obligation group have left ACE Capital Re in New York because of cost cutting measures, according to officials.

AIG Trading Group laid off several foreign exchange derivatives staffers last week as a result of its integration with sister outfit AIG Financial Products, said AIG spokesman Joe Norton in New York. Meanwhile there is speculation last week over whether John Finigan, president and ceo at AIG TG in Greenwich, Conn., will continue to work for the merged entity, with one official noting that Finigan's office has been cleared out. Finigan, reached at his home in Scarsdale, N.Y., declined comment. Norton declined to specify the number of employees laid off or comment on individuals.

Barclays Capital has hired Gregory Hart, an associate interest-rate swap marketer to corporates at Banc of America Securities in New York, in a similar role. Hart reports to Ed Somekh, head of corporate risk management and derivatives in New York, according to Kristin Friel, spokeswoman in New York. Somekh did not return calls and Hart declined comment.

Cargill, the largest privately owned corporate in the U.S., is weighing up converting a recent USD250 million fixed-rate bond into a synthetic floater. Jay Olsom, assistant treasurer in Wayzata, Minn., said the swap is under consideration in order to maintain the corporate's fixed to floating ratio of around 50%.

BNP Paribas has hired Nicholas Kello, former managing director and head of investor coverage for equity derivatives at JPMorgan in New York, as a managing director heading equity derivatives marketing for North American financial institutions. Kello reports to Francois Carnet, head of U.S. equity derivatives, according to Melissa Sherer, spokeswoman in New York. She declined further comment.

Ken MacKenzie, former head of U.S. equity derivatives trading at Citigroup Global Markets, has jumped to hedge fund start up Archeus Capital Management in New York. Gary Kilberg, ceo in New York, confirmed MacKenzie joined the management team as a principal, but declined to detail his responsibilities. MacKenzie, who left Citigroup last month (DW, 10/5), declined comment.

Citigroup has hired Dhimant Shah, credit derivatives trader at ABN AMRO in Singapore, for a similar role in its Hong Kong trading operation. Shah, who started last week, did not return calls. Debashish Dutta Gupta, v.p. in global credit derivatives trading at Citigroup in Hong Kong, said Shah is an addition to the team and part of the firm's plans to expand its credit derivatives effort. It boosted its presence on the structured credit side late last year by forming a CDO team.

Dresdner Kleinwort Wasserstein is planning to merge its debt syndicate and credit trading group with its credit derivatives operation. The move would combine the departments of DrKW's highest profile credit stars: Sean Park, managing director and global head of debt syndicate and credit trading, and Matteo Mazzochi, global head of credit derivatives and securitization. Rowan Staines, spokeswoman, declined comment.