Tim Youssef, former director in equity derivatives trading at Credit Lyonnais Securities in New York, has resurfaced at institutional broker Burlington Capital Markets, as a managing director and co-head of equity derivatives. Paul Basile, who co-heads the desk with Youssef, said the loss of trust by many clients of the bulge brackets research teams means the deciding factors for executing trades have shifted toward execution and price. This has leveled the playing field for firms such as Burlington, according to Basile.
Youssef, who left Credit Lyonnais in March (DW, 3/23), was at a conference and could not be reached. Joe Desena, ceo in New York, to whom Youssef reports, didn't return calls. Basile said the firm is likely to make further hires to its equity derivative sales and trading operation.
At Credit Lyonnais, Youssef reported to Christian Lengelle, managing director and head of equity derivatives trading in New York.
