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Derivatives

Dresdner Credit Trading Duo Quit

A pair of credit traders has quit Dresdner Kleinwort Wasserstein's London desk to take similar roles at other firms. Rob Illingsworth and Hussain Nasser both left this month.

A pair of credit traders has quit Dresdner Kleinwort Wasserstein's London desk to take similar roles at other firms. Rob Illingsworth and Hussain Nasser both left this month. They reported to James Deighton and Paul Grimsey, co-heads of investment grade trading, who could not be reached for comment. Rowan Staines, spokeswoman for Dresdner in London, confirmed the departures.

Illingsworth has jumped to Credit Suisse First Boston in London where he will start as a v.p. in credit trading this month. He will report to Antoine Cornut, head of European flow credit trading, who declined comment. Rebecca O'Neill, spokeswoman for CSFB in London, confirmed the hire.

Market officials connected Nasser with a role at Lehman Brothers' U.K. trading desk. Nasser could not be reached for comment and Mark Lane, spokesman for Lehman in London, could not comment by press time.

Dresdner has filled the roles with internal promotions. Simon Brooks, a structured credit trader, rises to director on the credit trading desk and Dray Simpson, who comes from the structured notes and private placement business, moves to v.p in credit trading. Both will report to Deighton and Grimsey.

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