Dresdner Kleinwort Wasserstein is ramping up its credit, interest rate and foreign exchange derivatives capabilities in New York, and as part of this effort will opportunistically hire traders, marketers and researchers. Keith Fell, the North American head of sales and derivative marketing in the firm's global debt division in New York, said there is no timetable for the hires, but he added the bank is growing its derivatives business as part of a strategic plan to expand its global debt capabilities.
Dresdner sees particular room for growth in fx and credit derivatives, specifically in origination, Fell said. Although the New York derivatives market is quite crowded, "nobody has a monopoly on good ideas," he continued, arguing that Dresdner will be able to make its mark.
Fell did not have an exact figure on how many derivatives pros Dresdner plans to hire, but noted the bank's New York global debt team, which includes derivatives, totals more than 100 traders, marketers and researchers. Since August 2000, this team has grown by about 50 individuals, and Fell said the bank is a little more than halfway to its hiring objective for the group.
Recent hires on the derivatives side include Guy Rotondo, managing director, corporate derivatives origination at Chase Manhattan in New York, as head of North American corporate derivative marketing for interest-rate and currency derivatives.
