BMO Capital Markets has hired Tarek Montes, marketer at London-based hedge fund Aspect Capital, for a new role as head of structured derivative sales to the Middle East.
Montes said BMO has been selling predominately money-market and fixed-income instruments to the Middle East for some time, but decided it needed to hire someone dedicated to the region to handle the growing business. He will cover cross-asset-class sales, with a particular focus on interest-rate and credit structures. The firm may look to hire additional staff to the sales effort at a later date. "We will see how this coming year goes," said Montes.
An official at Aspect in London said Montes has not been replaced and his responsibilities have been absorbed by the the sales team. Prior to joining Aspect, Montes had a similar role selling derivatives to the Middle East at The Bank Of New York in London.
