Venk Reddy, an equity derivatives trader at Bank of America Securities in New York, who left the firm last year to start an Internet business, has returned to head BofA's newly created equity financial products group, according to Van Nguyen, managing director and global head of equity derivatives trading. Reddy was an equity derivatives trader before leaving the firm to set up ZEO, a wireless travel guide Web site. He declined further comment about the Internet venture.
The new group will run Bank of America's equity finance business and derivatives business as one unit, Nguyen said. Nguyen added that Reddy's hire is not part of a larger restructuring. "This is just part of our ongoing effort to constantly upgrade and improve in the areas of finance," Nguyen said.
