MOVES-M.Stanley hires UBS banker for Asia listed derivatives

June 11 (Reuters) – Morgan Stanley (MS.N) has hired a banker from UBS (UBSN.VX) to oversee the marketing of listed derivatives in Asia, sources told Reuters, as the U.S. bank seeks to boost its share in the listed futures business.

Financials

Chris Chong has been hired as an executive director responsible for marketing listed derivatives in Asia, one of the sources, who was aware of the move, told Reuters.

His role will be to coordinate the listed derivatives marketing strategy with the prime brokerage division, which serves hedge funds, Morgan Stanley electronic trading and the traditional trading floor, sources said.

Chong was previously chief operating officer for UBS Futures in Singapore. UBS confirmed his departure.

Morgan Stanley was not available for comment.

Last year Morgan Stanley had hired Clark Hutchison and Bill Templer, who were co-heads of exchange-traded derivatives at UBS.[nBNG380841]

(Reporting by Saeed Azhar in SINGAPORE and Mia Shanley in STOCKHOLM)

PM meets his Bangladeshi, Vietnamese counterparts in Egypt

Sharm-el-Sheikh (Egypt), July 16 (ANI): Prime Minister Dr. Manmohan Singh held bilateral meetings with his Bangladeshi and Vietnamese counterparts-Sheikh Hasina and Nguyen Tan Dung respectively on the sidelines of the XVth Non-Aligned Movement (NAM) Summit here on Wednesday.

Leaders of developing states that make up NAM had earlier said the world needs a financial system that is fairer to developing states, which have suffered most from an economic crisis caused by rich countries.

The grouping has struggled to stay relevant after it was founded during the Cold War by countries, which did not want to be aligned either with the Soviet Union or the United States.

The movement now has 118 member states, with 15 observer states, representing two-thirds of the members of the United Nations and half of the world’s population.

It has struggled to find a role since the 1989 fall of the Berlin Wall and the Soviet Union’s collapse a year and half later.

The 118 member-states are composed of 53 nations in Africa, 38 in Asia, one in Europe and 26 in Latin America and the Caribbean. By Smita Prakash (ANI)

Bob Marley’s family strikes merchandise deal

London, Feb 12 (ANI): Jamaican musician Bob Marley has long been dead but his family is keeping his spirit alive by signing up for a merchandise deal.

Bob Marley-themed drinks, luggage, stationery, hotels and video games too are being named after the late reggae star.

“We’re open to licensing just about anything,” the BBC quoted the late reggae icon’s daughter Cedella, as saying.

“If it is not right, we will not do it,” she said.

The family has teamed up with private equity firm Hilco to capitalise on his name and songs and to stop bootleggers, and have started with a Bob Marley lager and coffee, which will be among the first items on the market.

Headphones, snowboards, shoes, musical instruments and electronics are on a list of other products that will be developed in a major expansion of Marley’s official merchandise range.

Another plan is to open a global chain of One Love cafes where people can ‘come, eat good Jamaican food, talk about the music, listen to the music, live bands’.

“That’s something that we’ve always wanted to explore,” Cedella said.

“We’re talking [about] all over the world – one in London, one in Asia, one in Amsterdam,” she added.

This is a big business for bootleggers and Cedella wants to stop some of the nonsense, and make sure the great stuff upholds standards.

“Sometimes when you put on his records it’s like he’s talking about today, right now,” she said.

Adding: “The message is still about hope and peace and all of us coming together. That’s what makes him special. All of us can relate to him.” (ANI)