Morgan Stanley
Dollar/yen break-out expected
Technical indicators suggest the dollar/yen exchange rate could be set to break out of the tight trading range it has been trapped in since June, says RiskNews’ sister publication, FX Week .
Morgan Stanley Investment Management hires chief risk officer
Morgan Stanley Investment Management (MSIM) has hired Kenneth Winston as managing director and chief risk officer, reporting to the company’s president and chief operating officer, Mitch Merin.
Morgan Stanley quant joins Caspian Capital
Caspian Capital, a New York-based hedge fund specialising in fixed-income strategies, has hired Ali Hirsa from Morgan Stanley as head of analytical trading strategies.
Morgan Stanley Investment Management snares quant head
Morgan Stanley Investment Management (MSIM) has recruited Sandip Bhagat as managing director and global head of quantitative strategies. He reports to Joseph McAlinden and is based in New York.
Barclays poaches head of German fixed-income sales from CSFB
Omar Selim, formerly head of German fixed-income sales for Credit Suisse First Boston, is to join Barclays Capital.
Analysts learn to live with CP-205
The Financial Services Authority’s (FSA) new rules governing conflicts of interest in investment research could spawn a cottage industry in interior design tailored for research teams in dire need of CP-205 compliant office layouts. The CP-205 working…
Kemp takes foreign exchange helm at Merrill
Morgan Stanley foreign exchange chief Stephen Kemp is set to take on the continued build-up of Merrill Lynch’s forex business, following the resignation of co-head of global foreign exchange and rates Michael DeSa, reports RiskNews' sister publication FX…
Morgan Stanley poaches DrKW credit head in Tokyo
Morgan Stanley has hired Mark Mallia as an executive director to be the senior trader and product manager for US and European bond and credit default swaps in Asia time, according to Robert Breden, executive director in the fixed-income division of the…
Morgan Stanley set to acquire Barra
Morgan Stanley Capital International (MSCI), a provider of equity, fixed-income and hedge fund indexes based in New York, will acquire California-based technology company Barra within 120 days, for approximately $816.4 million, or $41.00 a share, the…
New York meeting brings iBoxx and Trac-x merger closer
The banks behind the iBoxx CDX credit derivatives indexes have agreed on points that could herald a merger between the index and its big rival, the Dow Jones Trac-x index, following a meeting in New York, reports Risk’s sister publication Credit .
Dembo steps away from CEO role as Algo secures new financing;
Ron Dembo, founder and chief executive of Toronto-based technology vendor Algorithmics, is to step away from his day-to-day running of the company to assume the role of chairman. The move comes as Algorithmics secured new financing from its main…
FX smashes $600m hole in Anglo accounts
The cost of failing to hedge foreign exchange risk was brought into sharp focus last week, when mining firm Anglo American said its 2003 earnings were down $578 million as a result of currency movements, reports RiskNews ' sister publication FX Week .
Creditex launches electronic trading of CDS indexes
Credit derivatives broker Creditex has launched electronic trading of credit default swaps (CDS) indexes.
Standard Bank takes on structured product marketers
Standard Bank London (SLB) has hired Rupert Boyd from Morgan Stanley and Michele Maffei from JP Morgan Chase for its sales and structured products marketing teams.
ABN Amro bolsters equities franchise in Hong Kong
Dutch bank ABN Amro has boosted its equities franchise in the Asia-Pacific region with a series of appointments in sales, trading and research in Hong Kong.
Morgan Stanley forex co-head retires
Morgan Stanley has made Philip Newcomb sole global head of foreign exchange, following the retirement of Peter Murray at the end of January, reports Risknews ' sister publication FX Week . Murray, who was based in London, and Newcomb, based in New York,…
US sets trend for high bonuses
Global commercial banks are expected to award bumper bonuses in the next three months, following a pattern set by the US investment banks in December, reports Risknews ' sister publication FX Week .
Investors should buy credit protection, warns Morgan Stanley credit strategist
Investors should use the range of credit derivatives products to hedge their exposure to European corporate bonds, Morgan Stanley fixed-income analysts said today, adding they are bearish on the prospects for European credit next year.
Dow Jones unveils Trac-x Europe high-yield index
Dow Jones Indexes today gave details of the portfolio for the new Dow Jones Trac-x Europe high-yield index. The index consists of the 25 most liquid European high-yield credit default swaps, and contains many well-known names such as British Airways,…
ISE adds Morgan Stanley executive to board
The International Securities Exchange (ISE) has appointed Thomas Cardello, managing director responsible for global electronic derivatives marketing within the institutional equity division at Morgan Stanley, to its board.
Banks should standardise CDS indexes, says credit derivatives panel
Investment banks should be pushing for standardisation in credit default swaps (CDS) indexes, agreed a panel of credit derivatives experts at Risk ’s Credit Risk Summit Europe 2003 in London.
Independent third-party to take over Trac-x imminently
JP Morgan and Morgan Stanley are in the final stages of negotiations to hand over their credit derivatives index product Trac-x to an independent third-party. The move will happen “within a matter of days”, Andrew Palmer, head of credit derivatives…
JP Morgan Chase and Morgan Stanley launch Trac-x Asia
JP Morgan Chase and Morgan Stanley have made yet another addition to the family of Trac-x global credit default swap indexes created by both firms, with the launch of Trac-x Asia.