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BANKING

FX round up: HVB build-up continues

HVB has continued the build-up of its FX business with several senior-level sales appointments, including Mark Sweeting, who it enticed from ABN Amro in London. The bank also hired Toby Angel from JPMorgan, Peter Graham from Pru-Bache and Sue Rasmussen from ANZ.

July 06, 2007

Opinion

Awards for Excellence 2007 Off the record special

"OK, so I screwed up. Even my COO called me up and said: "Great pitch mate, really compelling – shame about the logo on the top of the page"

July 06, 2007

BANKING

Bank of America: The masters of integration

Bank of America’s next step forward

July 06, 2007

Opinion

Inside Investment: Tulipmania, Shanghai-style

There’s trouble brewing in the Chinese stock market. But a short, sharp shock could be just what is needed.

Andrew Capon, July 06, 2007

CAPITAL MARKETS

Equity derivatives: Penny pricing helps boost US equity options trading

The switch to lower minimum price increments that came into effect in the US listed equity options market in February is making the market more efficient, according to a report. Earlier this year, the US options industry switched its minimum price increment from $0.05 (nickels) to $0.01 (pennies) in 13 key option classes under a pilot programme mandated by the SEC. The switch to penny pricing is already having a positive impact for users of equity options, according to Aite Group, a US consultancy firm.

John Ferry, July 06, 2007

BANKING

Turkey: ING joins Turkish banking fray

Foreign bank interest in Turkey’s fast-growing banking market shows no sign of slowing down, with ING of the Netherlands the latest new entrant into the country’s increasingly cosmopolitan financial services sector. In June, ING signed a contract with the Armed Forces Pension Fund (Oyak), to acquire its subsidiary, Oyak Bank.

Guy Norton, July 06, 2007

CAPITAL MARKETS

Covered bonds: Third time lucky for Italy

The third draft of Italy’s covered bond legislation has been published.

July 06, 2007

BANKING

Australia: Tapping a growing rich list

The most common subject when foreign banks talk about expansion in Australia is wealth management. Paul Masi, chief executive at Merrill Lynch, which focuses successfully on Australia’s ultra-rich, talks of "a unique franchise" and wants to get bigger. Steve Harker, chief executive at Morgan Stanley, has also marked it down.

Chris Wright, July 06, 2007

Opinion

Pan-asset-class volatility: Where did all the vol go?

Traders hoping that an uptick in volatility is here to stay should be careful what they wish for.

July 06, 2007

BANKING

FX round up: Lichten leaves JPM

Rob Lichten has left his role as global head of FX sales and trading at JPMorgan to take what the bank described as a long sabbatical. His decision came after the bank decided to merge its G10 FX and rates businesses and combine all its emerging markets into its wider EM platform. The bank later announced that Chris Willcox and Matt Zames would co-head global rates and currency trading, excluding Asia ex-Japan.

July 06, 2007

Foreign Exchange

FX round up: Icap loses senior EBS staff

Jack Jeffery, chief executive of electronic broking at Icap, quit the broker almost a year to the day after its purchase of EBS. Jeffery, who was parachuted into EBS from Citi in February 2002, had overseen EBS’s integration into Icap, which moved swiftly to replace him, announcing that market veteran John Nixon had assumed the role.

July 06, 2007

AI profile: M2M navigates volatile market with shipping fund

Global Maritime Investments fund has annualized net returns of more than 30%. Founder/partner Steve Rodley of manager M2M explains to Helen Avery how shipping hedge funds are meeting investor demand for diversification and performance.

Helen Avery, July 06, 2007

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