Wachovia Securities has appointed Lawrence Gibbs, an equity derivatives trader at BNP Paribas, to its newly forged listed options/exchange traded fund business. Todd Steinberg, managing director and head of equity linked products in New York, said the hire completes the firm's equity trading hires in the short term. Wachovia has been building a listed options/ETF team in order to offer a broader range of services to institutional clients (DW, 2/23). Gibbs, who could not be reached, will report to Josh Penner, head of the listed options/ETF division.
Mark Wisniewski, spokesman at BNP Paribas in New York, said Gibbs would likely be replaced.