Commerzbank Corporates & Markets is looking to build its equity derivatives and fund-linked business in Europe. Roberto Vila, head of equity derivatives in London, said the firm will hire a head of fund-linked trading and several equity derivative structurers in the next few months. Vila would not name specific hires because they have not yet come on board, but officials at rival houses tipped Craig Smith, who left Rabo Securities last month, for the role as head of fund-linked trading. Smith was on gardening leave and could not be reached and Andrew Newsham, spokesman at Rabo, did not return messages.
The German house has cut down on its derivatives businesses in the U.S. (DW, 12/10) and is focusing on its European operation. Market officials said the firm has a strong retail distribution network in Europe, so it makes sense to build up equity and fund-linked structuring, which will create products for this distribution channel.
