TD Hunts For U.S. Equity Pros; Reorganizes Derivatives Desk
TD Securities plans to bolster its U.S.-based equity derivatives team following a recent reorganization of its global derivatives business. Joseph Hegener, vice chair in New York, said the firm is in talks to hire a head of equity derivatives and double its team of four structurers and traders. TD is hiring now because it is making money in this business and the current economic climate makes it a good time to hire, Hegener said.
Hegener shifted from head of global high-yield credit derivatives and CDOs, to head the global interest rate and equity derivatives business. He retained his role as ceo of the U.S. operation. In the reorg the firm split its credit derivatives business into trading, structuring and exotics. It had previously been divided according to investment-grade or sub-investment grade credits. Other senior moves included moving Charles Colbourne to head the global credit structuring business, and Hugh Whittle to become global head of trading. They had previously been co-heads of the investment-grade credit derivatives business. Sinan Akdeniz continues as head of the exotic credit business.
Last month, the firm hired Tom Mykityshyn to spearhead the firm's institutional sales effort for credit derivatives, as well as nabbing two sales staffers to work under him (DW, 10/13). He joined from Deutsche Bank Securities in New York where he was a director in structured product sales. The firm is in talks to hire an additional five sales pros for this business line by year end.