Month: April 2008

Citadel Hires Another JP Morgan Banker

Citadel Investment Group has continued on its hiring spree and appointed another JP Morgan banker to head one of its key businesses. Derek Kaufman will join the $20 billion hedge fund as a senior managing director and head of the US fixed income business. At JPMorgan he was global head of fixed income in the […]

More Appointments at SocGen

Societe Generale Corporate & Investment Banking has continued to make appointments as it reshuffles its Fixed Income Currencies and Commodities (FICC) division (see Squawkbox, April 7). Pascale Moreau and Albert Loo have been appointed as co-heads of the bank’s interest rate and foreign exchange derivatives business. They will join the executive committee of SocGen’s capital […]

SLI Appoints Multi-Asset Chief

Standard Life Investments has appointed a new head of multi-asset class management. Guy Stern joins the UK-based fund manager from Credit Suisse Asset Management, where he was chief investment officer, multi-asset class solutions for its UK and US divisions. Reporting to Euan Munro, head of multi-asset investing, Stern will be responsible for overseeing the asset […]

Third Wooden Nickel Trial Results in Fines

The US Commodity Futures Trading Commission (CFTC) has obtained default judgment orders requiring Maxim Yampolsky of New York, Frank Schiavone of Howard Beach, New York, and First Lexington Group (FLG), a New York company, to pay more than $11 million in civil monetary penalties, disgorgement, and restitution due to their roles in defrauding investors in […]

Temenos Wins $30m JPM Deal

Swiss banking software provider Temenos has won a $30 million mandate from JPMorgan to help the bank build a centralised operating platform for treasury and cash management services globally. The platform is a core banking system based on Temenos’ T24 Model Bank system, which the bank will roll out in several countries over three years. […]

CME Posts Gains but Shares Plummet

CME Group reported an 88% increase in first quarter revenues, but its shares dropped by more than 10% because this was less than analysts had expected. Q1 revenues of $625 million were less than the predicted $630 million, according to Reuters, and the share price fell largely because CME usually outperforms analysts’ estimates. CME’s net […]

New Order Management Technology for Julius Baer

TraderTools, a vendor of electronic foreign exchange trading solutions, has been chosen to provide its technology to Zurich-based wealth management bank Julius Baer. The bank will use TraderTools’ straight-through processing platform, STPlatform, to monitor and execute FX orders. STPlatform offers an integrated order management system along with automated execution services, internal order crossing and data […]

Integral Hires Former EBS Exec for HK Office

Integral Development Corp., an electronic foreign exchange trading technology provider, has opened an office in Hong Kong and has hired Margaret Ma as the office’s first sales executive. Ma recently ended a 13-year career at EBS in Hong Kong where she was a sales and account management executive working mainly with the local offices of […]

SuperD Hires Another Former Bloomberg Exec

SuperDerivatives, a provider of derivatives pricing and online options trading services, has appointed Stephen Baker as head of sales for the UK, Ireland, Middle East and Africa, based in London. Baker joins two other former Bloomberg executives who have joined the vendor this year. Last week the company announced that it had hired Chris Zingo, […]

SBI Reports Currency Derivatives Loss

The State Bank of India, India’s largest commercial bank, said last week that its customers may have lost as much as 7 billion rupees ($175 million) because of currency derivatives trading in the year ended 31 March. Losses for Indian firms mounted in the year to March as their currency derivatives bets went wrong because […]