JPMorgan has hired Adrian Averre, derivatives trader in the options and structured products group at BNP Paribas in Tokyo, for a new role in Japan as head of interest rate options trading. "With more volatility in the interest rate and exotic markets, business is getting hotter," said Hideharu Taira, head of rates trading in Tokyo, explaining the firm's intention to increase its focus on the interest rate options market by appointing a head for the desk. "There's still room to increase," added Taira. Next year the firm will likely hire additional bond, swap and exotic traders. Averre could not be reached.
Averre's hire was also prompted by the departure of Matt Takahashi, interest rate options trader in Tokyo, who joined ABN AMRO earlier this year.
At BNP, Averre reported to Eric Auld, head of options and structured products in Tokyo. Auld did not return calls.
