Daiwa hires Cope to strengthen equity business

Daiwa Securities SMBC, the Japanese investment bank, has appointed Andrew Cope in the newly created role of head of secured equity financing and supply for the bank's global equity finance department, as part of broader efforts to bolster the firm's global derivatives operations.

Cope has joined the Tokyo-based bank from Barclays Capital, where he was head of the global equity finance department for Europe and Asia. He will be based in London and will report to Charles Day, head of global equity finance.

Cope's recruitment follows eight other hires made in October to strengthen the firm's derivatives operations, including the former global head of fixed-income derivatives quants at Bear Stearns, Christophe Tezier, as global head of quantitative research.

The last wave of recruitment also included Day, former European head of synthetic equity at Lehman Brothers, who was appointed global head of equity finance; Massimo Giranzani, who assumed the position of head of quantitative research for equity derivatives, after working in the exotic derivatives group at Mitsubishi UFJ Securities; and Sangjoon Kim, who became head of equity derivatives trading, having previously served as head of Japan equity exotics and hybrids for JP Morgan Securities.

See also: Daiwa expands its derivatives division