TD Securities has signed on Mark Mullahy, exotic equity derivatives trader at JPMorgan in London, as a managing director in equity derivatives trading, working out of its New York office. Joseph Hegener, vice chair in New York and to whom Mullahy reports, explained that in spite of difficult market conditions, TD Securities' equity derivatives business has been making money, which has led to the new hire. General market malaise also makes it an opportune time to pick up good people, he added. TD Securities plans to hire an additional three equity derivatives traders and structurers, bringing the team up to eight, said Hegener. Mullahy started last week.
At JPMorgan, Mullahy has been replaced internally by Alan Zagury, single stock options trader in London. Zagury reports to Christopher French, head of equity exotics and hybrids.
