People Moves
Rabobank Strenghthens Structured Products Team
Dutch banking group Rabobank has made three appointments aimed at integrating all trading, structuring and engineering of structured products across all asset classes. Jasper van Wel has been appointed European head of client structured products, Xavier Ducros has been named European head of structuring and Franz Maier is to be global head of financial engineering.
Structured products are widely used by wealth managers for their clients, although this sector has been hit by events such as the bankrutpcy of Lehman Brothers last autumn, as Lehman was a prominent manufacturer of such investment vehicles.
“The Client Structured Products Group has now fully aligned itself as a multi-product trading, structuring and financial engineering group that will be a solutions provider for our key clients. The group will provide all asset-based investment ideas and liability-based hedging solutions using equities, fixed income, FX, commodities or a combination of them all,” said Donal Galvin, global head of CSP and head of GFM London.
Mr van Wel will join Rabobank in London on 1 May 2009 and report to Mr Galvin. He will be responsible for all trading and structuring of CSP products, using his technical expertise and experience in structured products to further the integrated management of all non-linear risks.
Most recently, Mr van Wel worked at MKM Longboat Capital Advisors trading multiple products. Prior to that, he worked for a number of years at ABN AMRO.
Mr Ducros, who joined Rabobank in 2007, will report to Mr van Wel and has transferred to London from Hong Kong where he has been working within the multi-product structuring area. He previously worked at HSBC Hong Kong where he was head of structured solutions for Asia and also held various structuring and sales roles for HSBC and Commerzbank across multi-assets.
Mr Maier has been with Rabobank for more than ten years and fulfilled a number of senior roles in both risk management and most recently was head of structuring and financial engineering for the equity & fund derivatives group.
