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Derivatives

ABN Focuses On Complex Equity Derivatives, Hires Two Traders

ABN AMRO plans to focus on exotic structured equity derivatives in the coming year and has hired two traders to achieve that goal. Alberto Cherubini, v.p. and equity derivatives trader, and Faisal Khan, director and equity derivatives trader, at Schroder Salomon Smith Barney in London have joined as senior equity derivatives traders. Both will report to Paris Badkas, global head of equity derivatives trading. Khan started a week ago and Cherubini is due to start today.

Badkas said Cherubini and Khan replace Robert Hammer, senior equity derivatives trader, who moved internally to the firm's cash equities business a few weeks ago. Badkas explained he replaced Hammer with two hires because of the firm's commitment to building its complex structured product focus, adding that both Cherubini and Khan have expertise in this area. Hammer confirmed his internal move but declined further comment.

At Salomon, Khan and Cherubini reported to Andrew Crane, head of equity derivatives trading in London, who referred calls to spokesman Jeremy Hughes. Hughes confirmed the departures, but declined further comment. Cherubini and Khan confirmed their new roles but declined further comment.

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