DrKW establishes equity derivatives prop trading desk

Dresdner Kleinwort Wasserstein (DrKW) has made several appointments to a new proprietary trading desk within its equity products group.

Tony Baker has joined as a managing director and head of proprietary trading. Baker was global head of proprietary trading at ING from 1998 to 2000. Prior to that he ran proprietary trading at BZW Securities in London, responsible for global proprietary and derivatives trading, ex-Japan.

Paul Varcoe was hired as a director and senior proprietary trader. Varcoe co-founded Easyscreen in 1998, a software company for electronic derivatives trading. From 1992 to 1995 he was head of options on Liffe for Salomon Brothers in London, and was previously head floor trader at Swiss Bank Corporation.

Mark Smith was also made a director and senior proprietary trader. Smith’s background includes proprietary trading roles at SBC Warburg from 1995 to 1999. Most recently he was an investment manager with Stapleford Asset Management.

Finally, David Cockbill has joined DrKW as a director and senior proprietary trader from ING Barings, where he was joint head of proprietary trading and previously head of emerging markets funds trading.

Based in London, the new team reports to David Wenman, DrKW's global head of equity products.