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11:00 February 18th 2008 in News, Banks

Bear Officially Unveils New FX Head

Bear Stearns has officially unveiled Loic Meinnel as its European head of foreign exchange, global head of foreign exchange options and European co-head of emerging markets as reported in Squawkbox on January 28. Yves Leysen, head of fixed income for Bear ...

13:00 February 4th 2008 in News, Banks

Euroclear Bank To Expand In Asia

Euroclear Bank is ramping up its Asian operations with 25 new staff to be hired when, subject to regulatory approval, it upgrades its Hong Kong representative office to a branch office by April 2008. A Beijing rep office is also slated to ...

13:00 February 4th 2008 in News, Banks

Merrill Lynch Execs Miss out on Bonuses

Senior executives at Merrill Lynch will go without bonuses after the bank posted losses of over $12 billion for the second half of 2007. According to a filing with the US Securities and Exchange Commission, the bank’s management development and compensation ...

11:00 January 28th 2008 in News, Banks

Bank of America Makes FX Job Cuts

Bank of America, the second biggest US bank, has made a number of redundancies in its foreign exchange business as it tightens up of its operations following sub-prime losses. They are among the 650 job cuts that the bank plans to ...
Danske Markets is extending its use of GFI Group’s Fenics FX pricing and risk management software to enable its sales staff to better serve their local clients by providing immediate quotes and reporting.Fenics FX provides FX option pricing, ...

14:00 January 21st 2008 in News, Banks

City and Wall Street Layoffs Accelerate

The subprime crisis and resultant losses in derivative and fixed income departments around the world have ended in some substantial redundancies at investment banks. Citi, after its devastating $18 billion write down of subprime-related positions, posted a $9.83 billion net loss for ...

14:00 January 7th 2008 in News, Banks

China Invests in Aussie Banks

A subsidiary of China’s State Administration of Foreign Exchange (SAFE), the body responsible for managing China’s massive foreign reserves, is starting to diversify its holdings and has bought stakes in three of Australia’s largest banks, reports say. ...

20:00 December 15th 2007 in News, Banks

Citi Turns to Markets Man as CEO

Citi has appointed Vikram Pandit as its new chief executive officer and member of the Board of Directors, effective immediately. Pandit was most recently chairman and chief executive officer of the Institutional Clients Group, which comprises Citi Markets & Banking and ...
Dresdner Kleinwort last week made 60 staff redundant in its largely London-based credit business following recent market turmoil and the credit crunch. The cuts have been made as the investment bank goes through its year-end reviews.A spokesperson at the German ...
Separation of the Commonwealth Bank of Australia’s (CBA) global markets and treasury division into two business units in August 2007 has since resulted in 20 staff departures and a pending court case.  CBA dismissed its executive general manager of global markets ...