Commerzbank Securities' plans to start offering fixed-income, credit, interest rate and foreign exchange derivatives to high-net-worth individuals. At the moment the firm only offers equity derivatives, such as collars, according to Sam Gottesman, head of distribution of derivatives for the Americas.
As part of this distribution push, Commerzbank has hired Judith Erdman a director in the corporate and institutional client group at Merrill Lynch, as head of third-party distribution, and Michael Belbeck, a senior equity derivatives marketer and structurer at Credit Suisse First Boston in New York, as a senior hedge fund salesman (DW, 8/25).
