CDC Hires BNP Head Of Equity Derivatives

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CDC Hires BNP Head Of Equity Derivatives

Vuk Bulajic, who resigned last week from his position as head of U.S. equity derivatives at BNP Paribas in New York (DW, 4/22), has joined CDC Ixis Capital Markets North America to replace William Toy, head of U.S. equity derivatives sales and trading. Toy, who resigned earlier this week, will stay on as a consultant, according to Bulajic. He added that Toy's resignation was a "completely amicable" decision and that Toy will continue to work closely with the group. Bulajic said he plans to hire approximately 50 equity derivatives traders and marketers over the next year. The firm currently has four traders and one marketer. "We're absolutely in our infancy right now. That's the beautiful part of all this," Bulajic said. Toy did not return calls.

Market officials said CDC hired Bulajic because of his background in structured transactions and proprietary trading, areas in which CDC's North American branch is planning to broaden its focus. "The firm has had only marginal success in the U.S. equity derivatives market and this move could help improve its impact," one market official said.

Bulajic, who began his new job last week, reports to Ramine Rouhani, head of capital markets for the CDC's North American operations. Rouhani did not return calls.

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