Dresdner Kleinwort Wasserstein (DrKW) has undertaken a major reorganisation of its credit derivatives operations, and named Rick Weinstein its new head of credit derivatives.Weinstein will report directly to Matteo Mazzocchi, global head of credit derivatives and securitisation. He will lead the newly reorganised group that now consists of four units: trading, collateralised debt obligations (CDOs), collateralised synthetic obligations (CSOs) and structured credit products. Weinstein was previously responsible for regulatory and tailor-made tax business within credit derivatives.
”Rick and his team bring a wealth of experience in structured finance which will be instrumental in positioning DrKW as a leading player in this rapidly expanding market,” said Mazzocchi.
The German bank has also hired Darren Smith as co-head of CDOs, where he will work alongside Jeremy Vice. Smith will be responsible for marketing and structuring CDOs. He joins from the global structured products group at UBS Warburg.
Javier Martin-Artajo - previously responsible for trading emerging market assets - is now the head of trading, with responsibility for all credit derivatives risk management and trading. Gregory Lieb, formerly co-head of structured credit products, now leads the CSO unit. Finally, Stratis Hatzistefanis will co-head structured credit products, alongside Forbes Elworthy. He will focus on repackaging, structured conduit financing, tax and regulatory structures, and all other tailored products.
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