Wachovia Securities International has hired three senior equity derivatives traders in London.Stephane Carty, previously head of vanilla single stock trading at Commerzbank, andMichael Paterson, a trader in Carty's group, have joined David Little, a senior equity options trader at Bear Stearns in London, at the U.S. firm.
Carty, Paterson and Little declined comment when reached at Wachovia. The three report to Ajay Khanna, head of equity derivatives trading in New York, who could not be reached for comment by press time. An official close to the U.S. firm said the trio will support the structured equity business Wachovia kick started last year by hiring a team, which included Khanna, from Morgan Stanley. The London traders will also work with Wachovia's European equity sales to institutions group, but there are no plans as yet to launch a European equity structured products business, said the insider.
Vinny Van Pelt, head of equity derivatives at Bear Stearns in London, declined comment on any replacement for Little, as did Roberto Vila, head of equity derivatives at Commerz in London. An official close to Commerz said the firm has reorganized its equity trading business, with single-stock trading now falling under Olivier Robine, head of exotics trading.
