Wachovia Securities has hired Neil Glassman, a senior equity derivatives salesman at Bear Stearns in New York, to work in a similar position. He was hired as part of Wachovia's on-going effort to build a listed options/exchange-traded fund business in the U.S., said Todd Steinberg, managing director and head of equity-linked products in New York. An official familiar with the hire noted that Glassman is a great catch for Wachovia, having been one of Bear Stearn's best and most senior hedge funds salesmen. Glassman, who will report to Steinberg, will spend most of his time in single stock, index and ETF option sales, however he will also work with over-the-counter options where appropriate, Steinberg said. Glassman could not be reached.
Don Martocchio, senior managing director at Bear Stearns, to whom Glass reported, didn't return calls.