UBS has hired Dariush Mirfendereski, head of inflation derivatives trading at Barclays Capital in London. He will join in April in the new position of European head of inflation trading, reporting to Christine Morrissey, head of rates derivatives in Europe. In an e-mail to DW, Morrissey said Mirfendereski will cover both government and derivative products, as well as the derivative side of U.S. dollar inflation products. Mirfendereski could not be reached.
Morrissey added that UBS has seen significant client demand for inflation-linked structures. This market has doubled in Europe since the end of 2002, she continued.
An inflation trader at a rival firm said Mirfendereski's hire will bolster UBS' presence in inflation derivatives, adding that the Swiss firm has a larger presence on the cash side of the business.
Kerry Kennedy, spokeswoman for Barclays Capital, said Joseph Mulvey has joined the inflation derivatives trading team from euro rates to replace Mirfendereski.
