Daiwa makes cutbacks to derivatives team

Dominique Blanchard, Daiwa

Several senior executives within Daiwa Capital Markets, the investment banking unit of Daiwa Securities, have left as part of a global restructuring push with 20 staff cut overall.

Martial Rouyère, global head of equity derivatives, Edouard Hoepffner, head of structuring for Asia ex-Japan, and Adam Cowperthwaite, head of equity derivatives sales for Asia ex-Japan, are all understood to have left the bank within the last week.

The departures represent a setback for Daiwa, given the Japanese secur