Dresdner hires Silvotti, reshuffles derivatives group

He will be based in London and report to Matteo Mazzocchi, head of global derivatives. Silvotti was previously global head of structured credit, derivatives and collateralised debt obligation (CDO) trading at Calyon - the investment banking arm of Crédit Agricole.

Silvotti's appointment is part of a more widespread reshuffle in the German bank's derivatives business. Gregory Lieb and Rick Weinstein have been appointed co-heads of the credit derivatives business group. Lieb and Weinstein will retain their respective roles as head of correlation trading and structured products.

Elsewhere, Tong Lee, formerly head of credit hybrid trading, and Dean Rock, formerly deputy head of rates, will form a new rates derivatives and hybrids business group.

In equity derivatives, Areski Iberrakane continues in his role as head of equity derivatives flow trading, and now takes on responsibility for exotics too. He reports to David Wenman, head of equity products.

The reshuffle follows DrKW's restructuring of its derivatives operation to create of a global derivatives group in April.