Private banking FirstRand has finally offloaded subsidiary Ansbacher Group to the approval of all involved. The sale to Qatar National Bank (QNB) of the group, which provides financial services to high-net-worth clients internationally, was completed in November, opening a door to the lucrative and expanding high-net-worth market in Qatar.

When Patrice Blanc joined Fimat in 1989 the company was an upstart, even in France, where it had been formed just three years before at the same time as French futures and options exchange Matif (Marché à Terme International de France).

Leading equity derivatives players are pitching higher yields and name diversification to CDO investors. But deals need to be conservatively modelled and attractively priced.

From unlikely roots, US private-equity investor Lombard has deftly re-invented itself to emerge as a leading local value investor in Asia. It has some way to go before it has truly regional scope but an unconventional approach to investing has yielded impressive results to date.

China's economy is humming along in top gear but its domestic securities markets remain stuck in neutral. As the central government continues to struggle with financial reform, losses mount and systemic risk increases.

Banks are trying, with mixed success so far, to interest institutional investors in structured products based on funds of hedge funds and hedge fund indices. For institutions that have been slow to obtain approval for alternative investments, structured products offer a quick fix. But suspicion abounds.

Korea

Josh Rosenberg's hobbies, which include Ashtanga Yoga, skiing and cycling, are a good grounding for the often frenetic and fast-paced world of hedge funds.

Barclays Capital has increased its staff by 30% to 7,000 in the past 18 months - and there's more to come. The objectives - more client contact and a broader product range - seem to be attainable. What's not so clear is whether increased revenues will outweigh the costs of this headlong expansion and how it will transform the firm's culture.