Andy McConnell, pass-through trader at RBS Greenwich Capital, started this week at BNP Paribas in New York. He joins the French bank as head of pass-through trading, reporting to Zbigniew Ryzak , head of the rates group for North America.
McConnell's hire is one of the most senior ones made by BNP Paribas in recent months, as it has announced plans to build a full-fledged mortgage trading operation and has been staffing up. McConnell referred questions to Edwina Frawley, spokeswoman. "We're continuing to grow the business," she said, noting the desk is up and running and recently hired a team of traders from Freddie Mac's former securities unit, which was shut down last year. A Greenwich Capital spokesman did not return a call by press time.
