Lehman Brothers in New York has hired Satish Chellaram as a trader of cash and synthetic emerging market debt. Chellaram comes from Merrill Lynch, where he spent eight and a half years, in a similar role. The role is a new one for Lehman, which had previously based the position in Tokyo. Chellaram says the move to New York is part of an effort to expand the business and that as U.S. investors search overseas for value, they are looking at Asian credits as part of the big picture.
Chellaram, who started at Lehman at the end of last month, trades Asian sovereigns and corporates, ex-Japan. He reports to Mohammed Grimeh, managing director and global head of emerging market trading, and Matt Clinton, a senior trader on the emerging markets desk.
At Merrill, Chellaram reported to Brian Weinstein, a managing director in emerging market trading. Officials at the firm say they are looking to fill the opening.