Bank of America has beefed up its equity financial products businesses with a raft of derivative appointments in London. Fourteen traders and marketers have started in new roles and key staffers have also been transferred from New York. The hiring spree is part of the firm's push into the European market with a view to replicating its U.S. equity derivatives success, said Ben Wilkinson, managing director and global head of structured credit and EFP trading. The firm launched the London-based trading desk last year.
Wilkinson himself crossed the Atlantic to London earlier this year to spearhead the effort and has been followed by Guillaume Blacher, global head of equity financial derivatives quantitative research, Bob Willmot, now European head of EFP technology, and Oana Poliac, European equity derivatives business management. Wilkinson said the firm has seen strong flows since launch, even through the quiet summer period, particularly from investors looking for products on less liquid indices to increase portfolio diversification.
New to the trading desk is Vittorio DeAngelis, principal and head of single stocks, and Francois Lu, v.p., both of whom have jumped from Dresdner Kleinwort. Lu transfers from New York where he developed the German firm's U.S. exotic trading and structuring desk. In addition, single stock traders Fabrisio Maccalini, v.p., and Frederic Valmorin, associate, have joined from Toronto Dominion and from BNP Paribas respectively.
On the sales front, three principals have been appointed. Giancarlo Cavaliere, from Credit Suisse, and Giovanni Ceglia, from Banque AIG, are selling equity products into Italy, while Janne Leirvik, from Deutsche Bank, is heading Scandinavian investor marketing. Covering Iberia is ex-BBVA saleswoman Alejandra Entrecanales, v.p, and ex-Banesto structurer and distributor Sergio Parra, v.p.
Looking after marketing and sales to France is Salim Gassama, v.p., who joins from Natexis Banques Populaires, Julie Logmbang, associate, from Commerzbank, and Benoit Sorel, associate, from Lazard Brothers'. An-Sofie Meirsschaut, v.p., has been nabbed from Fortis Bank to lead marketing into Benelux. All new salespeople report to Patrick Sommer, head of investor marketing for Europe, the Middle East and Africa, and Jerome Drean, head of EFP trading for the same regions.
