DrKW adds to credit derivatives team

Dresdner Kleinwort Wasserstein (DrKW) has hired two ex-Gen Re staff to boost its credit derivatives team in New York.

The bank hired Kevin Stocklin as a director with responsibility for building the German bank‘s collateralised debt obligation (CDO) structuring andorigination business in North America. Stocklin will report to Darren Smith and Jeremy Vice - the London-based co-heads of CDOs at DrKW – and Keith Fell, New York-based managing director of capital markets.

Robert Wolff has also joined the New York credit derivatives team. He will focus on CDO structuring and report to Stocklin. Both new hires were previously part of the derivatives team at Gen Re Securities. They were involved in originating, structuring and executing CDOs and structured credit portfolio business at the near-defunct unit ultimately owned by Warren Buffet's Berkshire Hathaway.

The German bank has made a number of key appointments to its credit derivatives unit this year. The most high-profile was the naming of Rick Weinstein as head of credit derivatives - a newly created position - in January.