Bear Stearns has hired Julien Petit, head of European derivatives sales at Bank of New York in London, as a managing director in the fixed-income derivatives marketing group, and plans to hire more sales professionals within the next few months. Morad Mahlouji, senior managing director and head of fixed-income derivatives marketing, said the hire is part of the firm's strategy to grow its fixed-income derivatives group in Europe. Petit started two weeks ago.
Petit will focus on European institutional investors and will report to Mahlouji, who explained that the client-driven business group has seen increased demand for structured interest rate products as yield-hungry investors have shied away from the equity and the credit markets.
