U.S. Investment Firm Jefferies Strengthens European Rates Team
New hires signal bid for more business, including covered bond trading
By:
By Covered Bond Investor™ Staff
10/19/2009
In what the Wall Street Journal describes as an attempt "to muscle in on a business in which there are fewer banks competing than before the financial crisis," a midsized U.S. investment bank Monday (Oct. 19) announced the hiring of 17 additional traders and sales professionals.
The type of activity involved is the fixed income rates business in Europe, including covered bonds. The investment bank in question is New York-based Jefferies & Co. Inc. The key figures hired are Domenico Crapanzano and Claudio Pinto (both previously of Dresdner Kleinwort).
According to a written statement by Jefferies, Crapanzano will serve as Managing Director and Head Trader of European Rates, responsible for "institutional sales and trading of government bonds and swaps, agencies, structured bonds, high grade securities, covered bonds, inflation products, as well as the repo finance business" (italics added). Claudio Pinto will be Managing Director and Head Trader of European Rates, "responsible for directing the trading of European Government and Agency securities."
The new hires will serve under Christopher Bury and Daniel Markaity, Co-Heads of Jefferies' Global Fixed Income Rates Business. Jefferies notes that its Rates team will now include almost 40 professionals at its Fixed Income Department in London.