Rush to replace protection from Lehman introduces new risks
Imperfect hedges could come back to bite trading books, analysts warn, after last month’s scramble to replace credit derivative protection sold by Lehman Brothers

Structured credit veterans launch advisory and management firm
Structured credit veterans launch advisory and management firm

Chenavari brings in senior manager
Chenavari brings in senior manager

London start-up hires structurer
London start-up hires structurer

Credit Suisse loses flow head
Credit Suisse loses flow head

UBS strengthens European credit flow team with raft of new hires
UBS has made a number of additions to its European credit flow sales and trading team as part of a recent reorganisation aimed at maximising the potential of the bank’s customer

Deutsche Bank shuffles trading
Deutsche Bank shuffles trading

Tricadia adds for CDPC launch
Tricadia adds for CDPC launch

SuttonBrook hires credit exotics trader
SuttonBrook hires credit exotics trader

Top Bear Stearns’ credit staff secure roles at JP Morgan
The movements of some of former Bear Stearns’ senior credit employees in the US is becoming clearer, with news of five appointments to JP Morgan’s New York office

CDO advisory firm launched
Moray Vincent, the former head of structured finance at Grange Securities in Australia, has re-emerged at Structured Credit Research & Advisory, a firm he has founded with a former colleague from Grange, Jason Woodards

London-based manager hires
London-based manager hires

Trader moves firms
Former Morgan Stanley trader Sam Griffiths has moved to RBS

Merrill Lynch appoints Berry as head of structured credit and securities
Merrill Lynch has appointed Bill Berry as head of structured credit, securitisation and the bank’s alternative solutions business

Fast growing CQS keeps on hiring
Fast growing CQS keeps on hiring

Fast moves
Round up of notable moves at end of May

Calyon loses more structured credit staff and others face redundancy
Departures from Calyon’s structured credit business moved up a gear in April, with a series of high profile defections and position shuffling

Austria’s Erste ramps up in CSOs
Austria’s Erste Bank is understood to have made a major hire as it looks to build up its structured credit business in London

Fast moves
people moving in May

UBS brings in traders as it builds up new credit prop trading unit
UBS brings in traders as it builds up new credit prop trading unit

Goldman Sachs appoints joint global heads for CLO business
Goldman Sachs is understood to have filled the gap left by David Rosenblum’s move to the buy-side by appointing two global co-heads of its CLO origination business

Pemba Credit Advisers hires former SocGen high-yield trading head
Pemba Credit Advisers hires former SocGen high-yield trading head

South African bank seeks structured credit expertise
South Africa’s Standard Bank is looking to take advantage of the dislocation in the structured credit market by hiring selectively

Barclays Capital loses four credit structurers from London office
Barclays Capital loses four credit structurers from London office

Monoline FGIC loses head of CDO group as rating downgraded
Monoline FGIC loses head of CDO group as rating downgraded