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FOLLOWING the appointments of UBS Warburg's Jürgen Odenius and Flemings's Harold Warren, Commerzbank Securities is looking to establish an authoritative emerging markets team by recruiting another 25 analysts by the end of 2001. Odenius will head the emerging markets strategy team when he starts at Commerzbank on Tuesday. Warren will run the emerging markets trading books. Dominic Hughes will manage the team, which will cover London time-zone emerging markets, and will focus on the banking, telecoms, oil and gas, and technology sectors.

TWO NEUER Markt IPOs that had been priced near the bottom of their range rose on their first day of trading yesterday (Thursday). Shares in Blue C rose as much as 51% from issue price and Electronics Line as much as 27%. Commerzbank had to work hard to complete the Eu34m IPO of consulting and integration firm Blue C, after doubts about the timing of the deal and investor enthusiasm for the internet sector.

FOLLOWING the appointments of UBS Warburg's Jürgen Odenius and Flemings's Harold Warren, Commerzbank Securities is looking to establish an authoritative emerging markets team by recruiting another 25 analysts by the end of 2001. Odenius will head the emerging markets strategy team when he starts at Commerzbank on Tuesday. Warren will run the emerging markets trading books. Dominic Hughes will manage the team, which will cover London time-zone emerging markets, and will focus on the banking, telecoms, oil and gas, and technology sectors.

Czech korunas * Westland-Utrecht Hypotheekbank

IBJ Securities this week privately placed the largest ever Japanese securitisation, as Dai-Ichi Mutual Life Insurance Co sold its entire residential mortgage portfolio.

IBJ Securities this week privately placed the largest ever Japanese securitisation, as Dai-Ichi Mutual Life Insurance Co sold its entire residential mortgage portfolio.

DECHRA will become the first veterinary company to be listed on the LSE next month after a £28m IPO. Bookbuilding begins today (Friday) for the deal, managed by CCF Charterhouse. The company is offering up to 35,808,287 shares at a range of 88p-136p. This will give it a price-earnings ratio of between 12 and 15, excluding interest paid on debt.

Estonia

The Eu18bn loan for Deutsche Telekom has been launched, as the blue chip German credit prepares to line up its core relationship banks for its debut facility. Around 80 banks have been invited, each for a specific hold level. There will be a bank meeting in Frankfurt on Wednesday, August 30.

Brazil

* ABB International Finance NV

* Alcatel SA