Banks keen to hire German equity derivatives staff

Morgan Stanley has reportedly hired five equity derivative salespeople for the German market. Recruiters say other banks are doing the same.

Malcolm Pace, an equity derivatives-focused recruiter says JPMorgan and others are also growing London-based sales teams to target the German market: "Germany is a strong market for structured products. The search for equity derivatives salespeople will continue in the next 12 months," he says.

Rachel Stewart, an equity derivatives specialist at search firm Mantis Partners, says banks are looking for German focused-equity derivatives specialists to work in both London and Frankfurt.

Pace says banks are scouring London for German equity derivatives talent because "the candidate pool in Germany is very thin." Hiring is most active at VP and associate levels, he adds.

Derivatives Week~ reports that Morgan Stanley has hired Bernhard Wenger from BNP Paribas s executive director of structured equity sales. Matthias Rode and Uwe Warpak, previously of Dresdner Kleinwort Wasserstein join as executive directors in flow sales, while Christian Schalke and Christian Stock, also from DrKW join as vice presidents.