Nomura
From BAML to UBS: how 15 banks stack up on ‘last look’
Disclosures show striking differences on pre-hedging, hold times and trade acceptance
Asia moves: Nomura hires in Hong Kong, HKEx shuffles board, and more
Latest job changes across the industry
People moves: Six reshuffles, Citi’s Planquart joins TP Icap, and more
Latest job changes across the industry
BAML hires new US head, Ice names model risk head, and more
Ice hires new director of model risk management, EEX appoints senior manager of agricultural commodities, new chairman of Baltic Exchange Advisory Council, and more
Reinsurers take on role providing Solvency II capital relief
Firms such as RGA are covering surrender risk, offering to replicate matching adjustment
Risk solutions house of the year: Nomura
Risk Awards 2018: From reinsurance contracts to deal-contingent hedges, Japanese firm proves brains can triumph over brawn
EU sparks hopes of securitisation margin reprieve
Optimism over EU Council amendment, but Parliament will still have to approve
Leaked EU paper proposes flexible bank holdco rules
Document offers helping hand to US and Japanese banks, which must split out securities business
People moves: new Asia-Pacific chief for Goldman Sachs
Also: Reid Marsh moves at Barclays; Citi’s new Apac capital markets origination head; and others
Banks shelving alternative beta products at increasing pace
Data suggests overfitting partly to blame for mothballing of two in five strategies
People moves: Hassani leaves Santander for CapGemini
Citi makes several hires; new Americas head for Barclays; ADS Securities names new COO
People moves: Hsu swaps HSBC for StanChart
Also: Instinet hires Asia-Pacific CEO, China chief for Citi, IDFC Bank names new chief exec; and others
Insurers press case for new-look risk margin
Firms call for lower cost of capital and link to interest rates in key element of Solvency II
Council of EU holds firm to salvage STS securitisations
Market participants welcome reversion to 5% retention rate and lower penalties for breaches
Emir review could push securitisations into the dark
Subjecting deals to margin requirements would be a further blow to STS securitisation concept
People moves: EBS makes switches in electronic forex
Citadel hires SEC director as general counsel; MUFG’s new leveraged finance head; Nomura changes India chief; and more
Regulatory blitz weakening model risk management, say banks
Smaller banks’ modelling practices under growing scrutiny, but ability to comply is stretched
Solving the FRTB puzzle
As well as the likely capital impact of the Fundamental review of the trading book (FRTB), the move to desk-level modelling approval is tied to a bank’s ability to pass a series of new quantitative tests – which dealers anticipate will be difficult –…
Identity crisis: venues still struggle with Mifid designations
Lack of clarity on multilateral and matched principal definitions leaves market participants guessing
Derivatives sales 2.0: banks explore big data
Pressured banks hope new tools and technical nous will give their sales teams an edge
Esma to referee AMF-FCA dispute over inducements
EU authority set to clarify whether buy side needs to pay for macro research in Mifid II
EC to miss Mifir equivalence deadline
Draft timetable would leave some jurisdictions inaccessible to European Union firms from January 2018
Three Japanese banks consider new CVA approach
Industry working group formed to discuss introducing accounting adjustment
People moves: Jain joins Cantor
FCA hires Foulger; new CRO for HSBC; Goldman's senior shake-up; equities chief for Credit Suisse