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Chicago-based futures commission merchant Rosenthal Collins (RCG) has deployed GL Trade’s Aspen for FX to support its back-office operations. The application, which might be better known to pure FX players as an FNX product, allows RCG to monitor and manage positions taken out on five ECNs and one rate provider.

UBS has hired Carsten Kengeter as its new global head, fixed income, currencies and commodities (FICC) within its investment bank. Kengeter, who will join UBS from Goldman Sachs, relocating from Hong Kong to London, is the replacement for André Esteves, who quit the bank earlier in the year. He will report to Jerker Johansson, the chairman and chief executive of UBS Investment Bank, who had also been acting as an interim head of FICC. Kengeter will also join the investment bank's executive committee and the UBS Group's managing board.

CLS has hired Roger Rutherford, who many years had the pleasure of taking my line when he was a dollar/Deutschmark broker, from Icap’s EBS unit. Rutherford, who will be CLS’s head of product management, will report to Rachael Hoey.

Oystein Matheson has left his position at Saxo Bank in London. Matheson had been the company’s head of UK retail sales before being put in charge of its Middle East operations. It is not clear where he is headed.

Heikki Valli has left his position on the options desk at UniCredit in London and headed back to Commerzbank, which is where he came from before he went to UniCredit. He will report to HS Kim.

Standard & Poor's is releasing its first exchange traded fund ranking reports at the end of this month, covering the performance, risk and cost factors of the individual holdings. The new service has been in the works since June (WSL, 6/17). Since ETFs debuted 10 years ago, no major research firms have ever produced overall rankings on ETFs. S&P will be selling the new service to brokerages and the buyside with the equity rankings, said Steve Biggar, global director of equity research.

Industry observers said that PIMCO's entry into the exchange-traded fund space will pave the way for other traditional long-only fund firms to move into ETFs

Demand for City office space in London is holding strong, with around 2.5 million square feet of new properties let during the first half of the year. Many developments that are under construction continue to see steady leasing, nixing earlier fears the credit crunch would create chronic oversupply of space in the financial district.

Companies may find selling off their real estate to be more attractive than tapping conventional sources of fundraising. "This is a market that has been far more active than the traditional multi-tenant investment sales market," said Bruce Miller, managing director at Jones Lang LaSalle in Chicago.

VTB's ambition is to be a leading universal bank in Russia, with a strong balance of revenues from its retail, corporate and banking arms. But does it have the wherewithal to achieve those lofty goals? Guy Norton reports from Moscow.

The bank shines through Kazakhstan’s financial sector gloom thanks to the chief executive’s cautious policies that he put in place while rivals were borrowing abroad to fund over-risky lending. Elliot Wilson reports.

In contrast to the US and western Europe, the private equity industry in Russia is in rude health. Guy Norton reports from Moscow on the rationale for the optimistic outlook.