Goldman Sachs in London has combined its equity and credit derivatives strategy teams. Researchers for both asset classes now report to Klaus Toft, head of sales strategy. Sandy Rattray, previously responsible for equity derivatives strategy, now heads a research team called fundamentals strategy.
Rattray's team is focused on trading and will fine comb markets for opportunities such as mispricing, whereas Toft's group has a more macro remit. Rebecca Nelson, spokeswoman, confirmed the reorganization.
One City derivatives strategist noted the move is being driven by client demand. "Clients want to receive research that covers both credit and equity," he added. Deutsche Bank announced before Christmas it would combine its quantitative research teams. At the German bank, both credit and equity strategists now report to Jean-Paul Calamaro, previously global head of quantitative credit research.
