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Derivatives

Wachovia Continues Equity Build Up In U.S.

Wachovia Securities has hired several equity derivatives professionals in the U.S. as part of its plans to beef up its presence.

Wachovia Securities has hired several equity derivatives professionals in the U.S. as part of its plans to beef up its presence. Todd Steinberg, managing director and head of equity-linked products in New York, who the new hires report into, said John Bishop, a senior index trader, and Chris Maloney, a quantitative analyst in equity derivatives, have both joined from Citigroup Global Markets in similar roles. Meanwhile, Loretta Finck, a risk arbitrage sales trader at institutional broker Burlington Capital Markets, and Jiri Hoogland, a quantitative analyst from Atlanta-based energy trader Mirant, are also joining in similar positions, he added. The new recruits declined comment.

Duncan King, spokesman at Citigroup, said the firm expects to replace Bishop, but he could not comment on Maloney's likely replacement by press time.

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