Derivs - Equity

Etan Zellner, a director in Deutsche Bank’s Saba proprietary credit trading group formerly under Boaz Weinstein, has resurfaced at Lehman Brothers in New York.

More than 250 London-based Dresdner Kleinwort staffers, including derivatives traders, are now said to be involved in plans to sue the firm over slashed bonuses, raising questions about whether they can continue taking risks for the bank.

Brevan Howard Asset Management is planning a series of UCITS III funds targeted at pension funds and other institutions that will invest in derivatives such as fx options and inflation swaps.

Maranda Wong, managing director and head of equity structured solutions for greater China at Merrill Lynch, and Tim Last, director of equity hedge fund sales, had their positions cut last month.

The U.S. government’s move to increase its stake in Citigroup has some players pondering the impact a full nationalization might have.

Silvan Herriger, European head of index trading at BNP Paribas in London, resigned from the bank Monday.

Investors face a “challenging but doable” rush to comply with the Financial Services Authority decision to bring forward the new disclosure regime for contracts for difference, according to Toby Wallis, manager of the primary markets policy team in London.

William Brett, a managing director in corporate equity derivatives at Bank of America in New York, has left the firm.

Dimitrios Kavvathas, co-head of credit flow sales for Europe at Goldman Sachs in London, is heading to Hong Kong to be co-head of equity derivatives and credit distribution across Asia.

U.K.-based pension funds and insurers are hedging volatility in their equity portfolios by placing dispersion trades, expecting certain stocks to stabilize and for options on those names to hedge against index volatility.

A proposed offering from The Bank Of New York Mellon that intends to simplify end-of-day derivatives collateral transactions via netting is getting a cautiously optimistic reception from some major dealers.

Jean-Eric Pacini has been named as head of sales for equities and derivatives at BNP Paribas following the departure on Tuesday of Nick Tranter, head of European flow sales.