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Wachovia Builds City Equity

06 Mar 2006

Wachovia Securities International has hired three senior equity derivatives traders in London.

Wachovia Securities International has hired three senior equity derivatives traders in London. Stephane Carty, previously head of vanilla single stock trading at Commerzbank Corporates & Markets, and Michael Paterson, a trader in Carty's group, have joined David Little, a senior equity options trader at Bear Stearns in London, at the U.S. firm.

Carty, Paterson and Little declined comment when reached at Wachovia and it could not be determined who the three report in to. An official who had spoken to Carty after his departure from Commerz said he was interested in setting up an equity flow business, but details of the plans could not immediately be determined.

Vinny Van Pelt, head of equity derivatives at Bear Stearns in London, declined comment on any replacement for Little, as did Roberto Vila, head of equity derivatives at Commerz in London. An official close to Commerz said the firm has reorganized its equity trading business, with single-stock trading now falling under Olivier Robine, head of exotics trading.

06 Mar 2006