The UBS integration of Credit Suisse has taken centre stage in the news world.

UBS has unveiled a newly designated senior management teams for global markets as it moves through the Credit Suisse integration process to deliver ‘the power of the combined investment bank, according to a memo signed by Jason Barron and George Athanasopoulos, co-heads of global markets.

The newly appointed executives that will lead the combined investment bank include several familiar faces from the equity derivatives and structured products market including Patrick Grob, who has been appointed head of global wealth management unified global markets and Dushyant Chadha as head of derivatives & solutions.

The appointments are part of the third reshuffle of the UBS senior management team following the Credit Suisse takeover. UBS appointed its top senior management team in May, with almost all top roles going to existing senior UBS executives and board members.

Credit Suisse veteran banker Mike Heraty has joined RBC Capital Markets as a managing director and head of US equity solutions and structured product sales, according to a memo seen by SRP. Heraty will be based in New York and report to Sian Hurrell, global head of sales & relationship management, and head of global markets Europe. In his new role, Heraty will support the Canadian bank’s ‘strategic priority’ of growing its equity structured product and QIS business targeting institutional and private bank clients, including pension funds, insurance, asset managers, hedge funds and banks.

It's appointment time at Japanese bank Nomura, where John Goff has been named senior managing director, global head of structuring, reporting to Rig Karkhanis who was promoted to head of global markets in April. They both are based in London, according to an internal memo seen by SRP.

‘Our structured businesses have been a cornerstone of our global markets franchise, and we see considerable opportunity to further develop our client activity and capture market share in this area,’ said Karkhanis in the memo.

Canada’s BMO has launched MAX, a new leverage and inverse exchange traded note (ETNs) range targeted at sophisticated investors seeking tactical leveraged exposure to stocks in specific market sectors. MAX is the leveraged and inverse leveraged ETN brand of BMO which falls under the responsibility of Laurence Kaplan, managing director, BMO Capital Markets.

The Dax (Deutscher Aktienindex – German stock index) celebrated its 35th anniversary on 29 June.

‘The status of the Dax truly reflects the emotions that exist around how Germany is doing,’ said Stephan Leithner (pictured), member of the executive board, Deutsche Boerse, speaking at the ceremony. ‘The return, the up and the down equally reflect very much the emotion of wealth creation […] the question of should one invest in equity in Germany is again and again summarised by the question of how much would one make had one invested in the Dax.’

S&P Dow Jones Indices has seen growth in the last years in its thematic indices in the areas of innovative technology, environment & real assets, society & demographics, healthcare & wellness and multi-theme.

“Things have changed quite a lot in terms of what we can do in the indexing space and the tail winds for that have been data and technology,” says Ari Rajendra, head of thematic indices at S&P DJI. “If we think about what we could create 15 years ago, it is very different from what we can do today.”

Sector-based investing was of greater focus 10-15 years ago with pockets of thematics, as we know it today, being created in an index format. However, according to Rajendra, data limitations back then meant that it was challenging from an index provider standpoint to scale.

This has changed as index providers can access a variety of datasets from revenue-based data to other specialist datasets, such as sustainability, mobility, mining and agriculture, which have enabled a variety of “innovative and novel index solutions”.  

(Image credit: PNG Tree)