Merrill Lynch has set up a new structuring group covering fixed income products for clients in Europe, the Middle East and Asia, according to Osman Semerci, head of EMEA global markets at Merrill in London. As first reported in DW, Deutsche Bank's Theo Constantinidis has been tapped to lead the effort (DW, 8/8). Constantinidis resigned as managing director and head of structuring at Deutsche Bank in London two weeks ago.
Constantinidis will report to Semerci and develop derivative sales, trading and products across the EMEA region, but will not structure cash or synthetic CDOs. He could not be reached for comment.
Constantinidis' move is a blow to Deutsche Bank, according to market players, who said he drove the firm's client-focused structured product success in credit, emerging markets and commodities.
