Tokyo-Mitsubishi International plans to hire two credit derivatives quantitative analysts in London to add to its fledgling European credit derivatives business. Peter O'Neill, head of credit trading in London, said the team, which comprises two traders, started dabbling in the market late last year and needs research support.
"We are actively interviewing people and others will be added to the group soon," he said. TMI plans on becoming a market maker in single-name default swaps before branching out to baskets and synthetic securitizations (DW, 11/5).