Westdeutsche Landesbank has hired Naresh Malhotra, an associate director in credit derivatives structuring at Barclays Capital in New York, as a director in a new role in the German bank's North American credit derivatives trading team. Malhotra, who joins as a director, started at the end of August, according to a firm official. He will develop structured credit projects, including synthetic collateralized debt obligations and basket trades, as well as quantitative analysis on single name default swaps. Malhotra declined to comment.
Malhotra has dual reporting lines at WestLB, to Peter Tchir, head of structured credit, and to Ian Hawkins, regional head of product development for derivatives. Tchir joined earlier this summer from Commerzbank Securities (DW, 6/23) but is said to have not yet started in WestLB's New York office due to visa issues. At Barclays, Malhotra reported to Vince Balducci, global head of risk finance in New York. Hawkins declined comment and Balducci did not return calls.