Month: March 2005

SunGard Changes Hands for $11.3 Billion

SunGard, the largest technology company providing solutions to the financial markets, has reached agreement with a consortium of seven private equity investment firms, under which the consortium will acquire SunGard in a transaction valued at approximately $11.3 billion. The acquiring consortium was organized by Silver Lake Partners and includes Bain Capital, The Blackstone Group, Goldman […]

Sumitomo Mitsui Team Departs

Market sources say that the spot desk at Sumitomo Mitsui Banking Corp in London has left the bank, however the bank declines to comment. The desk comprises Phil Rands, Neill Fuller, Colin Clarkson, who was chief dealer, and Brian Tweedy, who was a proprietary trader.

Commerzbank Adds to Corporates & Markets Unit

Willi Ufer has been appointed as the new head of Commerzbank Markets in Frankfurt, the trading arm of Commerzbank’s Corporates and Markets Division (CBCM). He will oversee CBCM’s trading activities and report to Nicholas Teller, head of CBCM, also based in Frankfurt, who described Ufer’s arrival as “the concluding appointment into [his] management team. The […]

Hague to Bank of America

Nick Hague moves to Bank of America from Wachovia in London, the bank confirms. He joins as principle and global FX spot trader. He is based in London and reports to Steve Nutland, managing director and head of spot trading for Europe, Middle East and Africa, also based in London.

Morgan Stanley Hires Hewitt

Chris Hewitt has left CSFB in London and is reportedly to join the hedge fund sales desk at Morgan Stanley, London. Morgan Stanley was not able to confirm the report by press time.

Whittet to Nomura

Nomura confirms that it has hired Steve Whittet as vice president FX sales. He is based in London and reports to Hiroshi Maeba, also based in London. He was previously at Commerzbank in London, prior to which he was employed by the Royal Bank of Canada.

NAB Loses Duo

Peter Rextrew and Tim Fox have left National Australia Bank (NAB) in London, according to market sources. Rextrew was senior dealer, treasury, with responsibility for the Australian and New Zealand dollar trading book, while Fox was senior economist within the institutional division. NAB declines to comment on the reports, but it is believed that the […]

Vance Leaves Citi

Gareth Vance, a forward sterling trader at Citigroup in London, is reported to have left the bank by market sources, however, the bank was not able to comment by press time.

Swapstream Adds Banks

Swapstream, the multilateral electronic trading platform for medium and long term interest rate swaps (IRS), has added three banks to its roster of liquidity providers; CDC Ixis, Nordea and Lloyds TSB.   “The continual addition of new users to the Swapstream platform demonstrates the market shift toward electronic trading of IRS,” says Stephane Rio, CEO […]