Search results for

BNP Paribas argues coordinated action to support the dollar can work.

Barclays Capital has confirmed that Adrian McGowan is joining as managing director and head of foreign exchange trading, Asia-Pacific, from Deutsche Bank. It has also promoted Lutfey Siddiqi, its managing director and Asia-Pacific head of corporate FX and risk advisory, who now has additional management responsibility for distribution of the full suite of flow and structured FX products across corporate and investor clients in Asia-Pacific. Dean Tonkin, currently head of FX trading, Japan, and regional head of FX forwards, has also assumed additional regional responsibility for FX spot trading and FX proprietary trading.

Despite the far superior performance of CLOs to that of ABS CDOs, CLO managers on both sides of the Atlantic face a battle to survive in present and future market conditions.

Mark Hillery has apparently left hedge fund Tudor. There is no indication whether his departure is permanent or a sabbatical. Meanwhile, the firm has hired Andrew Bound from Goldman Sachs Asset Management. Bound left GSAM in May and is believed to be starting at the fund in August.

Structured product issuers have a new set of guidelines that they will be expected to informally adhere to after trade organizations, including the International Swaps and Derivatives Association, released non-binding principles for managing relationships with retail investors.

Fund managers in the region are finding demand for a wide range of products, even though many investors still have very local interests at heart.

Banorte, the biggest locally owned bank in Mexico, plans to establish a new venture capital unit that will be spun off from its distressed assets business, Solida, according to the bank’s chief executive.

As one Euromoney reader put it: “Macro has had more comebacks than Lazarus.” But is the strategy back to stay? – at least for three or so years, say managers.

"Putting an idiot in a suit doesn’t make him a private banker"

"If you don’t fully understand an instrument, don’t buy it. If you would not buy for yourself a specific product, don’t try to sell it. If you don’t know very well your customers, don’t lend them any money. If you do all these things, you will be a better banker, my son"

Institutions accustomed to doing business with the Gulf from afar are now facing up to the need to have a presence in the region and deciding on what scale that presence should be.