Bank of America plans to hire credit derivatives traders, structures and marketers for its London office. Paul van der Maas, managing director and head of structured credit products and emerging market structured products for Europe in London, said the bank wants to hire six individuals to support its growing credit derivatives, emerging market structured products and collateralized debt obligation business.
Credit products are growing in popularity because there are fewer opportunities in foreign exchange and interest-rate derivatives and investors are looking for ways to enhance yield, Van der Maas explained. BofA aims to make the hires to its 14-strong credit derivatives department by the end of the first quarter. The hires will be made after bankers get their bonuses
