Andy Constan, global head of equity derivatives trading and structuring at Salomon Smith Barney in New York, has been promoted to global head of equity derivatives. He replaces Alan Marks who left the firm to pursue other interests, according to an internal memo disseminated late last month by Arthur Hyde and Robert DiFazio, co-heads of global equities, (for the full text, go to www.derivativesweek.com).
Constan said the equity derivatives department grew due to successfully handled mergers and was performing in line with profit targets under Marks, adding that Marks' departure was not performance related. He declined further comment.
Marks' role at the firm was unusual in that he was a senior Smith Barney derivatives manager who survived the merger with Salomon Brothers and remained in a senior managerial role, according to a market official. Marks could not be reached.
Constan has no plans to hire or promote someone to fill his former position. He plans to actively manage the business with the regional head of trading.
