Vassilios Pappas, co-head of structured derivatives at HypoVereinsbank in Frankfurt, and Günther Bonk, co-head of distribution, left the firm last week. Nicole Rappl, spokeswoman, said the pair left to start their own business, but details could not be determined. She said they had been planning to leave for over a year, but waited for the integration of HVB and UniCredit.
Rappl said Willi Hemetsberger, global head of markets and member of the executive board to markets and investment banking, has taken over structured derivatives. Hemetsberger will co-head distribution and corporate derivatives with Luca Fornoni, deputy general manager. Ferdinando Samaria, deputy general manager, will take over plans to create a structured derivatives arbitrage unit within the markets group.
