Shorting scoop picked up
On August 1, NBC broadcast a long-awaited documentary on the US naked shorting scandal, first featured as April's Euromoney cover story. The documentary, which had been delayed several times, was aired on the investigative news programme Dateline. In addition, the New York Post reported on August 24 that the NASD and the SEC are conducting audits of brokerages in a drive to ferret out those breaking the rules.
People moves:
David Douglas has been appointed the new head of ECM in Asia at Lehman Brothers. Douglas joined Lehman in 2002 from CSFB and was previously responsible for the bank's successful French ECM business. Lehman has been on a hiring binge in Asia over the past few months. It has picked up a new head of Korean operations, Euoo Sung Min; a head of derivatives solutions, James Lee; a new head of Japanese M&A, Masaru Shibata; and a head of financial sponsors, Sarab Bhutani, who moves from Lehman's New York office to Hong Kong.
Barclays capital has added three people to its equity derivatives team this August. Ed Ware joins from BNP Paribas and will be based in New York.