Commerzbank Securities has appointed Paul Shottes to its credit derivatives group in New York.Reporting to Carmine Urciuoli, head of credit trading and investment-grade syndication, Shottes is now responsible for single-name credit trading covering the chemicals, paper, defence, energy and real estate investment trusts sectors.
Shottes joins Commerzbank from Wachovia bank, where he was a credit default swap trader in the credit products group. Omar Bayoumi, head of Commerzbank's Americas division, said: "His presence strengthens the credit trading platform as we actively expand the team."
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