Banc of America Securities expands in credit derivatives

Charlotte-based Banc of America Securities has hired Peter Nguyen from Credit Suisse First Boston (CSFB) as head of credit derivatives specialist sales. He will lead the credit derivatives sales effort to hedge funds, banks and other frequent credit product users, and will be based in New York.

At CSFB, Nguyen was a director in credit derivatives dealing with similar clients. Before that, he was at Merrill Lynch, where he worked structuring and marketing fixed-income derivatives and structured products.

The credit derivatives specialist sales team in which he works provides sales coverage across cash, credit default swaps and structured credit products. Banc of America Securities said the team also works closely with the cash sales team across both debt and equity to provide relative value investing and hedging strategies.

Nguyen reports to Bill Parry, head of investment-grade sales.