Wachovia Securities plans to hire more than 30 derivatives professionals this year for its equity derivatives operations. Todd Steinberg, managing director and head of equity-linked products in New York, said the firm experienced a dramatic growth in its business last year and projects that this is going to further accelerate over the course of this year.
Wachovia made an aggressive push in equity derivatives last year that included initiating a listed options/exchange traded fund operation (DW, 2/23). The firm also added sales and trading staff to the team over the course of the year, with Steinberg anticipating that this year's hires will outstrip that growth.
Senior and mid-level derivatives marketers to private and corporate clients are being sought, with the firm also hunting listed-equity derivatives sales pros. It will also recruit equity derivatives researchers, he said.
