Banc of America Securities has hired Edward Mirsepahi, senior equity derivatives marketer at Commerzbank Securities in New York, as a principal in equity derivatives marketing to financial institutions. Officials familiar with BofA said the hire reflects a move by the derivatives giant to take advantage of adverse market conditions by nabbing experienced derivatives staffers from rival firms. Mirsepahi was among a round of recent Commerz layoffs (DW, 2/23), noted one insider. He will focus on marketing structured derivatives, according to Jennifer DiClerico, spokeswoman in New York.
Mirsepahi and Ian Reisner, head of institutional equity derivatives sales, to whom Mirsepahi reports, referred calls to DiClerico. BofA has also recently hired Tom Kenny, an equity derivatives trader, and Steve Moses an equity derivatives sales pro, from Morgan Stanley (DW, 2/3).
Edgar Mitchell, spokesman at Commerzbank, declined comment.
