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Derivatives

U.S. Credit Shop Hires Bear Stearns Credit Trader

Tricadia Capital, a collateralized debt obligation manager and proprietary credit derivatives trading operation, has hired Shaloub Razak, a credit derivatives trader at Bear Stearns in New York, in a similar role.

Tricadia Capital, a collateralized debt obligation manager and proprietary credit derivatives trading operation, has hired Shaloub Razak, a credit derivatives trader at Bear Stearns in New York, in a similar role. Arif Inayat, partner at Tricadia in New York, said Razak will trade credit strategies including relative value, curve trades, basis trades and capital structure arbitrage on a proprietary basis as well as being involved in the firm's CDO activity. Razak, who could not be reached, is filling a newly created seat as part of the firm's growth strategy. Inayat and Michael Barnes, both former executive directors in principal finance at UBS, set up Tricadia last year as part of the Mariner Investment Group.

Nelson Minier, head of Latin American credit derivatives trading at Bear Stearns, to whom Razak reported, said the firm is looking to replace him.

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