ABN AMRO has set up a sales effort to target equity derivative sales to institutions in London and has hired Amilcare Police, managing director and head of equity institutional sales at Merrill Lynch, to head the team. The bank is looking to increase its focus on institutional business, said Richard Loretan, head of marketing in equity derivatives. "We see much more opportunity in the institutional business now," he added.
European equity derivative marketing at ABN AMRO is divided into different geographical areas, explained Loretan. Several marketers who had focused on institutional sales within these areas will now report to Police, who joins this week. Loretan said Police has permission to make further hires to the group.
Police's hire is a further blow to Merrill, which lost 15 equity staffers to Nomura in July (7/27).
