Bear Stearns is attempting to increase its fund derivatives business by increasing the coordination between its fixed income and equity sales channels. The firm has hired Marc Besson, head of European structured derivatives marketing at Commerzbank Securities in London, to lead the charge. Besson is the first specialist marketer and will work alongside the two generalist sales forces. Besson will hire more marketers opportunistically.
Bear Stearns is attempting to boost this area because it has a large hedge fund brokerage business and can leverage off that expertise, according to Besson. Bear Stearns is one of four firms that plans to structure products based on HFR hedge fund indices (DW, 3/17).
Besson left Commerzbank in June. He reported to Hughes De La Marnierre, European head of fixed-income, foreign exchange and equity derivatives sales. De La Marnierre said he had not yet replaced Besson and the group has been reporting directly to him. He declined to comment on his future plans for filling the role.
