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Derivatives

Wachovia Pares Equity Derivatives Staff

Wachovia Securities today reportedly laid off at least 60 people across equity derivatives groups, including listed options sales and trading, convertible bonds and equity finance.

Wachovia Securities today reportedly laid off at least 60 people  across equity derivatives groups, including listed options sales and trading, convertible bonds and equity finance. Elise Wilkinson, spokeswoman, would not comment except to say that Wachovia "remains committed to its equity business, in particular equities capital markets and equity structured products, which includes equity derivatives. We believe this is a core part of our corporate investment bank and will continue to invest in our equities business in the future."  It could not be determined what percentage of the entire group the 60 layoffs represent nor where all the layoffs took place.

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