Citigroup has hired Glen Sorensen, v.p. in syndication at RBC Capital Markets in London, as a credit derivatives trader in Sydney, according to a senior fixed income official at Citi. "It's an extremely busy desk--more clients are moving into the credit derivatives market in Australia," said the official. Sorensen, who previously worked at ANZ in his native country prior to his stint in London, could not be reached. He now reports to Jared Barton, head of credit trading for Australia in Sydney. Barton was off the desk and could not be reached.
The Aussie credit market has been heating up this year, with additional institutional clients obtaining mandates for CDS transactions as well as banks including JPMorgan (DW, 6/23) building up their presence onshore.
