Dresdner Kleinwort Wasserstein has hired Zach Tuckwell, head of European equity portfolio trading at Merrill Lynch, in a similar role in London, and expects to announce up to 10 additional hires in the group in New York, Tokyo and London. Dresdner is finding more demand for portfolio trading and is opportunistically building its presence, according to an official familiar with the plans. Tuckwell will report to Tim Clorite, global head of portfolio trading. Clorite referred calls to the press office. Louise Beeson, spokeswoman at Dresdner in London, did not return calls at press time.
The portfolio trading group has full derivatives capability. Tuckwell is filling a position that has been vacant for some time, but details of his predecessor could not be determined.
At Merrill Lynch, Tuckwell reported to Mike Stewart, global head of portfolio trading in New York. Richard Creswell, a spokesman at Merrill in London, said the firm would replace Tuckwell, but in the meantime Stewart will increase his focus on Europe, Middle East and Africa. Stewart did not return calls.
