Banc Of America Securities has started offering equity derivatives research to institutional clients. Although BofA's sales force has always generated trading ideas for clients, it is generating formal equity derivatives research to meet client demand for regular written reports, said Chris Innes, managing director, global head of marketing for equity financial products in New York. The bank mainly gives clients specific trading ideas, rather than top-down market analysis, in the reports.
The move is motivated in large part by BofA's hire of Dean Curnutt, president of online equity derivatives trading platform StructuredMarkets, and now a principal in equity derivatives sales and research. The hire was opportunistic, said Innes, adding, "When great talent walks in the door, we hire." With this hire, BofA is equipped to begin offering regular research to clients. Curnutt and officials at StructuredMarkets declined to comment.
