Boutique fixed income firm loses structured products co-head
London-based fixed income boutique has lost co-head of structured products, according to official sources

Brokers: Welcome to the new Street
Wall Street and Canary Wharf are dead. Full-service investment banks are broken. And credit sales people are flocking to a new tier of firms. Laura Jones meets the key players. Rarely has a great industry declined so fast. It was not just the demise of Bear Stearns and Lehman Brothers last year that marked the end of a particular age for the financial markets. It was also the dramatic fall in risk appetite at the remaining "bulge-bracket" firms and the wholesale exodus of staff.

Structured credit supremo leaves bank
Market sources say that a North American bank has parted company with its former global head of structured credit products

Dinosaur snaps up credit traders as it expands agency brokerage
Dinosaur snaps up credit traders as it expands agency brokerage

Bank loses fixed income sales heads
Bank experiences further personnel changes as co-heads of fixed income sales and senior salesperson depart

Manager wins early euro CDO replacement mandate
A Chicago-based credit specialist has announced that it has won a mandate to take over as manager on an early European CDO

Short-life senior CBO tranche changes hands
A $2 million first pay piece of a 2001 CBO traded last week according to market sources

Buy-side resists rush to drop mod R
Buy-side resists rush to drop mod R

New York broker hires sales team from Winter Group
New York broker hires sales team from Winter Group

High yield recovery rates may fall to low teens
High yield recovery rates may fall to low teens

A very messy default
A very messy default

Liz Claiborne may trigger first mod-R related credit event
Bank of America analysts contend that a credit default swap modified restructuring event could be triggered with Liz Claiborne's amendment of its bank revolving credit facility.

Viewpoint: Looking for the bottom
With the global economic turmoil showing few signs of ending, we asked a group of leading credit fund managers what they expect to happen to credit in 2009 Q What will happen to credit spreads/prices in 2009?
Thomas Finke: No one ever really knows where spreads and prices are going - just take a look at what people were saying at the end of 2007. Many hoped that the market decline that began in 2007 would find a bottom in 2008. Instead, credit markets have experienced even greater spread and price deterioration, especially over the last couple months. As we face 2009, we can hope that credit markets stabilise, but we do not know for sure.

Trading head and salespeople depart bank
Bank loses senior salespeople and traders, colleagues confirm

ABS CDO tranche may have traded above 40 points
Eastman Hill Funding I, a triple A tranche of a CDO of ABS underwritten by UBS in 2001 and managed by TCW, traded off the Sigma SIV liquidation earlier this month

Reinsurer loses credit head
Reinsurer loses its New York-based head of credit, sources at the company have confirmed today

Bank loses correlation trader as exodus continues
A bank has lost a correlation trader, in addition to cutting back its structured credit business earlier this week

Founder moves on from credit index company
Founder moves on from credit index company

Forget credit. Here is credit version 2.0
After the dotcom crash the internet was slowly reborn. The same will happen to credit