Daiwa expands its derivatives division

Daiwa Securities SMBC, the Japanese investment bank, has made several additions to its global derivatives team.

Christophe Tezier, who was a former global head of fixed-income derivative quants at Bear Stearns, has become global head of quantitative research. Charles Day has been appointed global head of equity finance. Day joins from Lehman Brothers, where he had been European head of synthetic equity since 2007. Prior to his stint at Lehman, Day held roles at Merrill Lynch and Nomura.

There have been two additions to the derivatives infrastructure team. Andrew Wallhead will be responsible for front office, risk and profit & loss, and control. He was previously a director in exotic derivatives at Mitsubishi UFJ Securities. Duncan Stuart-Reid will be head of quant development, having previously worked for Citibank since 2000. His most recent role in the US bank was as global head of interest rate derivatives technology.

Murielle Maman will take responsibility for product structuring and wrapping at Daiwa. Maman was previously at Merill Lynch, which she joined in 2005 as managing director and head of its alternative and structured funds platform. Sangjoon Kim will become head of equity derivatives trading, having previously served as head of Japan equity exotics and hybrids for JP Morgan Securities, which he joined in 2005.

Massimo Giranzani will take up the position of head of quantitative research for equity derivatives. Giranzani had worked in the exotic derivatives group at Mitsubishi UFJ Securities since 2007.

Finally, Francois-Xavier Faure, formerly head of fixed income market risk at Lehman Brothers, has been appointed head of Daiwa’s risk management division in London.