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Lloyds TSB Adds Four In Derivatives

Lloyds TSB Corporate Markets has added four senior members to its FX derivatives team, as it continues to expand its structuring and trading capabilities.

The bank has hired for two trading and two research and structuring positions as it continues a build-up that started with the appointment of four new members to the team and the hire of Anders Henrikson as managing director and head of FX derivatives late last year (Profit & Loss, October and November 2007).

The latest trading appointments see Vikas Dabral and Frank Kornmann join the bank as directors in the FX derivatives trading team and Michael Roehl and Manlio Trovato strengthen its research capabilities.

Dabral joins as head of exotic FX derivatives trading. He was previously with Citi in London, where he worked with Henrikson and was responsible for pricing and risk management of exotic options in Asia. He has over 12 years’ experience as a trader and risk manager.

Kornmann has been appointed head of the FX and interest rate hybrid derivatives trading team. He joins from Mizuho and has extensive experience of exotic and hybrid derivatives trading, the bank says.

Both directors will report to Henrikson, although Kornmann will also report to Dimitri Kalafatis, head of fixed income derivatives trading – one of the four appointments last year.

“Franck and Vikas bring a wealth of experience in key areas for our business that will benefit our customers immediately and at the same time support our strategic objectives,” says Henrikson.

On the research side, Roehl joins the bank’s quantitative research team as head of fixed income derivatives quantitative research from Morgan Stanley in London. Roehl’s background in rates and hybrid derivatives research will lead Lloyds TSB’s quantitative research in this area, the bank says.

Trovato joins as head of inflation derivatives quantitative research from Merrill Lynch where he was instrumental in building the bank’s inflation derivatives business in London.
Roehl and Trovato will report to Vincent Gesser, managing director and global head of derivatives trading.

“Roehl and Trovato’s appointments are consistent with our plan to build a global derivatives platform across a number of strategic asset classes,” says Gesser.

“Our derivatives trading and product development team aims to provide new and existing customers with a comprehensive range of vanilla and exotic products and capabilities to address their risk management and yield enhancement requirements.”

Profit & Loss

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