BNP Paribas has hired two interest-rate derivatives marketers for its German and Austrian desk. Santosh Varghese, derivatives marketer at Citigroup in Frankfurt, will market derivatives and structured products to German and Austrian corporates and banks. Gregor Gruber, a former head of capital products at Morgan Stanley in London, is going to promote interest and credit derivatives as well as asset and liability management to German and Austrian insurance companies, noted Stefano Paschetto, European head of interest-rate and credit derivatives marketing at BNP in London. Gruber and Varghese will ultimately report to Paschetto and Mark Goldman, head of European fixed income in London.
Paschetto said Gruber and Varghese replace Achim Beck and Markus Kreer who left the firm in April for Dresdner Kleinwort Wasserstein, where Beck is head of marketing equity, interest-rate and structured credit derivatives for Germany and Austria. Kreer markets equity, interest-rate and structured credit derivatives to insurance companies in Germany and Austria.
Monika Shaller, a spokeswoman for Citigroup in Frankfurt, declined comment. Lindsey Harrison, a spokeswoman for Morgan Stanley, said Gruber left in the summer and declined further comment.
