Wachovia Securities has hired Thomas Birkett, head convertible bond trader at CIBC World Markets in New York, to head convertible bond trading, which includes convertible arbitrage strategies. Todd Steinberg, managing director and head of equity-linked products in New York, said Birkett is replacing William Ellsworth, who recently jumped ship to head Morgan Stanley's convertible trading effort (DW, 3/7).
Meanwhile, Wachovia is also looking to replace Gloria Schneider, who recently retired from the industry, as head of equity structured products. The new recruit will take on responsibility for marketing of equity-linked certificates of deposit, equity-linked notes, hedge fund-linked notes and synthetic convertibles to private clients, said Steinberg.
