DrKW appoints new deputy head of equity derivatives trading

Dresdner Kleinwort Wasserstein (DrKW) has expanded its equity derivatives business with the hire of Areski Iberrakene as its deputy head of equity derivatives trading. He is due to join the bank next week.

Iberrakene, ex-head of foreign exchange options trading at Barclays Capital, will be based in London and report to Christophe Chazot, newly promoted global head of equity derivatives. Chazot was previously global head of equity derivatives trading.

DrKW is understood to have made several new trader hires into its equity derivatives division, including Jaime Madariaga from Merrill Lynch and Zavier Guery from Commerzbank.

Iberrakene previously worked with Chazot at Bankers Trust from 1997 to 1999 in the foreign exchange options department.

Chazot told RiskNews that DrKW is looking to develop a number of equity derivatives projects, and will unveil further details in the next few weeks.

DrKW’s equity derivatives expansion follows a restructuring announced last month to integrate its global debt and equity businesses. And the bank has already made a couple of high-profile hires in its credit derivatives division in New York and its London securitisation departments.

Under the new structure, Chazot will report to Roselly Ramseyer-Torres, global head of equity products and sales. Ramseyer-Torres was previously deputy head of global equities and global head of equity derivatives.