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BrookView Capital, a New York-based broker dealer focused on the alternative investment community, has launched an exchange cleared interest rate swaps OTC execution platform designed specifically for IRS traders and risk managers.
Managing member chief executive Robert Colangelo has appointed William Heins as senior managing director of interest rate derivatives.
Heins is responsible for execution of exchange cleared interest rate derivatives.
Prior to BrookView, Heins was manager of swaps and options at Tullett Prebon.
“Bill is a tremendously talented senior level manager with an incredible vision who has brought us first mover advantage in the exchange cleared interest rate model
BlackRock has appointed Sallie L. Krawcheck, president of global wealth and investment management for Bank of America, and Mark D. Linsz, corporate treasurer for Bank of America, to its board of directors.
The appointments fill two seats vacated by Brian T. Moynihan and Daniel C. Sontag who have stepped down from the board.
Under the terms of BlackRock’s stockholder agreement with Merrill Lynch, Merrill Lynch may designate two directors to BlackRock’s board. Bank of America completed its purchase of Merrill Lynch in January 2009.
BlackRock’s board has 16 members, ten of whom are independent and not affiliated with the company.
Aros Capital Partners, a London-based Anglo Danish independent investment manager, has launched with the introduction of the Aros Paradigm Fund Sicav.
Both the fund vehicles and management company are domiciled within the EU, making it a complete onshore hedge fund structure but which is not constrained by Ucits III.
The structure has gained the approval of three regulators – the Financial Services Authority, the Maltese Financial Services Authority and the Danish regulator Finanstilsynet.
The founding team behind the company consists of Nicolai Borcher Hansen, Peter Brink Madsen, Christian Falster and Jacob Madsen. Three of the founders recently broke away
Gulfmena Investments has launched the Gulfmena Arab Opportunities Fund.
This is the first directional absolute return hedge fund focusing specifically on the Mena equity markets to be managed by a GCC-based and Dubai Financial Services Authority-regulated asset management business.
The asset manager of the fund, Gulfmena Alternative Investments, was granted a license by the DFSA to operate as a DIFC asset management company in August 2009 and is headed by chief executive and fund manager, Haissam Arabi.
The fund offers a multifaceted strategy for investing in Mena public equities. The strategy is designed to take advantage of current
Investment Technology Group, an agency broker and financial technology firm, has introduced the Raider algorithm to its existing ITG Algorithms suite.
The new algorithm captures trading opportunities by adapting to rapid movements in the market. Orders remain completely hidden while the algorithm seizes liquidity in both lit and dark venues simultaneously.
Raider offers varying levels of urgency, allowing the trader to choose the precise level of aggression to address any market condition. The algorithm quickly captures attractive spreads and subsequently pulls back when liquidity disappears and the spread widens.
Raider is unlike other active or aggressive algorithms that are
Union Bancaire Privée has hired Richard Wohanka, former chief executive of Fortis Investment Management, as the chief executive of the bank’s new asset management and alternative investments division.
Wohanka (pictured) also becomes a member of the bank’s executive committee.
“We are pleased that Richard Wohanka is joining UBP.” says Guy de Picciotto, chief executive of UBP. “His global vision, his management skills and his long experience in international finance and asset management are a major advantage for our development strategy.”
UBP Asset Management now has four activities: institutional asset management; the sale and distribution of products; alternative asset
Scoach, the Frankfurt exchange for structured products, has launched the Scoach reverse convertibles index.
The index enables investors to immediately track average, market-weighted performance of reverse convertibles in different market phases.
Scoach says that since the flat-rate withholding tax has gone into force thus ending tax discrimination of reverse convertibles, this product has been gaining in investor popularity.
"With the Scoach reverse convertibles index, we are promptly addressing our clients’ increased interest in information and supplying representative market tracking based on volume actually invested," says Christian Reuss, chief executive of Scoach Europa.
The Scoach reverse convertibles index is composed of
Odey Asset Management has appointed Simon Todd and Michael Nickson to run the group’s global equities strategy.
The pair managed more than USD20bn at US asset manager MFS Investment Management, and have built a strong performance record in global and European equities.
Todd invested across various global and European strategies at MFS. He trained at Phillips & Drew, having joined the company from KPMG.
His colleague Nickson, who trained at Goldman Sachs, worked alongside Todd on his European strategies and co-managed MFS’ international research funds with responsibility for utilities, capital goods and financials.
Todd says: "We are delighted to be
The publication of the 2010 target weightings for the Dow Jones-UBS Commodity Index has been delayed pending publication of the 2006 Industrial Commodity Statistics Yearbook by the United Nations.
The yearbook is used to determine the commodity production weights for crude oil, natural gas, lean hogs and live cattle.
The Dow Jones-UBS Commodity Index Supervisory Committee will continue to monitor the status of the United Nations yearbook and will consider alternative sources of production data or use data from the previous yearbook if the latest version is not available in time to publish the 2010 commodity index percentages in advance
Chatham Financial, an interest rate and foreign exchange risk management adviser, has testified before the House Financial Services Committee hearing on derivatives legislation.
Chatham was invited by the committee as an independent expert to testify as a representative of business end users who use derivatives to reduce their interest rate, foreign currency and commodity price risk.
Chatham’s chief operating officer, Dave Hall, testified on the merits and concerns in the currently drafted legislation released by chairman Barney Frank and the House Financial Services Committee.
The drafted legislation recognises and differentiates business end users from large financial institutions. Specifically, this draft
