The Benelux bank has already begun a wave of hires across asset classes, with some desks expected to double in size by the end of the year. An external consultant has been brought in to advise on the restructuring. And the designing of some products has already begun, a source confirmed.
Pierre Amrom, head of credit derivatives in the structured credit group at Fortis, says the move was designed more to keep clients than to compete with the bigger global banks. “We are not to be compared to