GFI poaches 10 for new rate swaps desk

New York-headquartered inter-dealer broker GFI has hired 10 brokers to set up a new US interest rate swaps desk in London.

The desk will be run by Vijay Angelo, who joins from Tradition UK, and Declan Wells, who joins from Icap.

"GFI's expansion in the interest rate derivatives markets is consistent with its aim to be the leading global provider of inter-dealer brokerage services in the derivatives arena," says Steve McMillan, head of European brokerage at GFI. "Market consolidation and considerable movement of key players within the industry have contributed to the timing of our decision to step in and grow this area of our business.”