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Derivatives

Merrill Hiring Spree Signals Equity Intent

Merrill Lynch has hired four directors and an associate to staff up its corporate equity derivatives team in a bid to win market share, as first reported on DW's website (www.derivativesweek.com 4/20).

Merrill Lynch has hired four directors and an associate to staff up its corporate equity derivatives team in a bid to win market share, as first reported on DW's website (www.derivativesweek.com 4/20). This is the first major round of hires since the firm recruited Cristina Garcia-Peri, head of EMEA corporate equity derivatives, from a similar position at JPMorgan in February.

Garcia-Peri said the recent merger of Merrill's equity and credit marketing groups (DW, 2/22) gives the firm an advantage in growing this business. This is because it can create hybrid derivatives more easily and leverage its existing client relationships in both asset classes. Merrill will focus on product innovation and identify themes, rather than focus on a strict country basis.

In the recent round of hires, it has brought in Jose Luis Albert as deputy head of the EMEA corporate equity derivatives team from JPMorgan, where he had worked in both fixed income and equity derivatives. Helene Von Roeder comes on board from UBS, Philippe Mathieu joins from Cleary Goettlieb Steen & Hamilton, and Glen Fairbairn joins from Deutsche Bank. All the new hires are at the director level. In addition, Francesca Pagnoni, previously part of Goldman Sachs' structured equity solutions group for Italian corporate clients, joins as an associate, according to an internal memo.

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