Merrill Lynch has hired two of the biggest names in the burgeoning U.K. inflation derivatives market: Jacob Oppon and Christian Alibert, both from Royal Bank of Scotland in London. The move is a coup for Merrill, according to an official at a rival firm. The pair will likely report to Jonathan Mitchell, Merrill’s head of options. Mitchell declined comment and Oppon and Alibert could not be reached. Patrick Meyer, spokesman at Merrill in London, was unable to provide immediate comment. The departures are thought to be a heavy blow to RBS, although the firm was still pricing inflation deals on Wednesday, according to a banker at a rival shop. Ila Kotecho, spokeswoman at RBS in London, did not return calls.
Merrill is the latest firm to hire established talent to launch an inflation derivatives business. The move follows Dariush Mirfendereski’s move to UBS from Barclays Capital earlier this year (DW, 3/31).
