Rabobank is launching a hybrid-derivatives trading and sales desk and has hired Mike Weber, a former partner at hedge fund Eriswell Capital, with USD140 million under management, to head the operation. Weber, reached at Rabo in London, said he was drawn in by the opportunity to create a new business. He reports jointly to Sheldon Sussman, responsible for fixed income in New York, and Hans Pontier, responsible for equity derivatives and retail sales in London. Sussman and Pontier did not return messages.
Weber will hire four staffers to cover sales, trading, quant and structuring roles in the group. He is working on getting systems in place and expects to begin trading by the middle of the year.
