WestLB boosts credit derivatives sales

Germany’s WestLB has snared Anthony Brown as executive director and head of credit sales. Based in London, he will sell a range of credit products to non-German-speaking accounts.

Brown, who started in his new role yesterday, reports to Nigel Denison, WestLB’s managing director and head of sales in London. Denison said Brown was hired for his broad experience in credit products. He described his new recruit as the “reinforcement” to boost the German state bank’s credit sales group as a whole.

Brown joins WestLB from French bank BNP Paribas, where he held a similar role. He began his banking career at Paribas.

WestLB is currently seeking regulator approval that would allow the bank to use its correlation trading models to offer single-tranche collateralised debt obligations to clients. The bank expects to start trading such instruments early next year.

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