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Derivatives

Bear Stearns Shuffles European Structured Credit

Bear Stearns has reorganized its European structured credit group.

Bear Stearns has reorganized its European structured credit group. Emmanuel Rousseau, head of European structured credit derivatives trading, structuring and marketing in London, has moved to another role internally and his slot has been carved up. Details of the new position could not be determined.

His former role has been divided between Tim Armitage, a structured credit derivatives trader, who has been promoted to European head of structured credit derivatives trading, and Sergio Ravich, previously head of Spanish fixed-income sales at Credit Suisse. Ravich is European head of structuring and marketing for structured credit derivatives in London.

Armitage reports to Martin St. Pierre, global head of structured credit derivatives trading in London, and Ravich reports to David Carlson, global head of credit derivatives structuring and marketing in New York. Ravich also replaces Shiv Wallia, European head of credit derivatives marketing, who left the firm earlier this year for Merrill Lynch.

Rousseau referred a call to Renu Aldrich, Bear Stearns spokeswoman, who declined all comment on his new role and the reasons for the moves. Ravich did not return a call and Amy Thompson, Credit Suisse spokeswoman, declined immediate comment on whether he has been replaced.

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