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Derivatives

Lehman Nabs Commerz Equity Trader

Maria Baum, senior trader in volatility arbitrage and other strategies on the proprietary desk at Commerzbank Securities in New York, has headed to Lehman Brothers. Baum could not be reached. Mark Sanborn, managing director at Lehman in New York, to whom Baum likely reports, did not return calls. Baum is understood to be filling a new position, with Lehman reportedly seeking to beef up its proprietary trading operation, said an official familiar with the hire.

Ricardo Pascoe, global head of foreign exchange, fixed income and alternative investment strategies at Commerzbank in London, who Baum reported into, did not return calls. An official at Commerzbank in New York, said the firm is actively seeking to replace Baum.

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