BofA Changes GCIB Management: Announces Job Cuts

After revealing lower third quarter profits related to the US sub-prime crisis, Bank of America has revealed a new management structure for its Global Corporate and Investment Banking (GCIB) unit. The bank has appointed Brian Moynihan as president of GCIB in the wake of disappointing third quarter results in its capital markets businesses, and says […]
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ANZ Reorganises AP

ANZ Bank has unveiled a new structure for its Asia Pacific institutional business. Mark Whelan has been appointed managing director, institutional – Asia and reports jointly to Alex Thursby, group managing director, Asia Pacific, and ANZ group managing director, institutional, Peter Hodgson.   The bank says the role has a clear brief to exploit opportunities […]
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Citi Creates Institutional Client Group

Citi has appointed Vikram Pandit as chairman and CEO of its newly-formed Institutional Clients Group comprising Citi Markets & Banking (CMB) and Citi Alternative Investments (CAI). He will continue to report to the Office of the Chairman.   Pandit, who retains his title as chairman of CAI, remains a member of Citi’s Business Heads, Operating […]
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Deutsche Claims Islamic First

Deutsche Bank says it has closed an Islamic Profit Rate Collar structure with Dubai Islamic Bank (DIB). The transaction was over $500 million in notional value, and is the largest such structure done in the Islamic Markets. The hedging structure required more flexibility than a vanilla Islamic Profit Rate Swap, the bank adds. Deutsche Bank […]
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Managerial Responsibility Makes a Comeback

The concept of managerial responsibility led to the departure of two senior bankers last week as Merrill Lynch and UBS conducted managerial shifts at the top of their global markets businesses.   Merrill saw the departure of Osman Semerci, global head of fixed income, currencies and commodities (FICC) at the bank, after revealing it expects […]
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Citi Launches Singapore Hubs for Transaction Services

Citi's Global Transaction Services (GTS) has launched its Asia Pacific Regional Service Hub and Client Care Centre in Singapore.   The two centres will connect to Citi’s existing network of global hubs in New York, Dublin and Miami, to provide 24-hour service coverage for global clients that centralised their treasury operations into a shared service […]
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US Bank Relocates FX

US Bank relocates its wholesale foreign exchange trading desk to Chicago from its current Minneapolis location today (October 1) as it establishes a 24 hour trading and sales operation there. "When the markets are open around the world, we will be here around the clock to assist our customers with their foreign exchange needs," says Peter […]
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BMO Confirms London FX Re-entry

As revealed exclusively by Squawkbox on September 3, Bank of Montreal Capital Markets (BMO) is re-establishing an FX presence in London after over four years away. In 1999 the Bank of Montreal moved its London FX operation to Chicago where it began a 24-hour trading operation which it still maintains, along with one in Toronto. […]
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Lehman Bolsters Asia FX Business

Lehman Brothers is strengthening its Asian foreign exchange business in Singapore to offer sales, structuring, trading, research and strategies in G10 currencies, local currency markets, options trading and electronic trading for its clients in South East Asia.   The Singapore expansion includes the re-location of key staff from Tokyo, Hong Kong and London as well […]
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Deutche Offers Easier Multi-Asset Access to Autobahn

Autobahn, Deutsche Bank’s electronic trading platform, has introduced a single log on for its bonds, interest rates, foreign exchange and future and options trading.  Rhomaios Ram, global head of e-commerce sales at Deutsche Bank says: “We have made it even easier to navigate through the use of a single log on for some of the […]
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