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Derivatives

Merrill Drafts Replacements For London Equity Team

Merrill Lynch in London has hired a slew of equity derivative staffers in the last three months, several of which will directly replace officials who jumped to Nomura last month (DW, 4/7, 27/7).

Merrill Lynch in London has hired a slew of equity derivative staffers in the last three months, several of which will directly replace officials who jumped to Nomura last month (DW, 4/7, 27/7). In a statement sent to DW, Harry Lengsfield, head of Europe, Middle East and Africa global markets at Merrill in London, said, "These seventeen new hires underscore Merrill's commitment to Global Equities, particularly smarter European solutions."

The majority of hires are additions to the combined debt and equity marketing force. Tobias Gehrke has been hired from Goldman Sachs to lead institutional derivative sales to the U.K., Scandinavia and Benelux countries. Gehrke also takes responsibility for Merrill's U.K. institutional sales team. Tobias Hupfauer joins from UBS to sell derivatives to German and Austrian institutions. Marco Stauffacher has been hired from Lehman Brothers to cover Swiss institutions, and Ethel Chicharro Sanchez from Banco Santander to cover Spain.

Merrill has also recruited Alex Trojanow, who joins from Royal Bank of Canada, where he covered credit derivative sales. Trojanow will market derivatives to German and Austrian institutions. The firm has also made a trio of hires focusing on hedge fund sales: Matt Renirie joins from Goldman, Andreas Konomis joins from Prime Financial Services and Mike Ward, from Lehman.

Some of the hires date back to the beginning of May. Donald Leitch, for example, hired from Commerzbank to head product structuring (DW, 5/9), will now also cover the exotic equity and fund origination and structuring position vacated by Mike Fullalove (DW, 7/4). Gene Linetsky and Ewran Mersian (DW, 5/9) hired in May, are marketing to Russia and Scandinavia, respectively.

Merrill is also boosting its equity derivatives trading operations, as reported by DW in July (DW, 7/4), under Andrew Song, previously at Goldman Sachs, who now heads the index vanilla trading desk. Elias Jaeggi, from UBS, will work for Michael Hull to build on Merrill's warrant trading team, and Gwenael Fort has been hired from Dresdner Kleinwort Wasserstein to trade European convertible bonds.

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