Wachovia Securities is extending its U.S. global rates and CDO platforms into Europe. The bank has made a number of hires both within its London-based global rates group and in Germany to support its growing European commercial real estate initiative there. The move comes at a time when Europe's first CDO deals backed by commercial real estate have begun to hit the market.
Wachovia last week announced it had hired Hans-Peter Schoech as director and head of structured rates and hybrids. Schoech is based in London and reports to Brian Zwerner, managing director and head of the bank's global structured rates and correlation credit group. Prior to joining Wachovia, Schoech was a director at Dresdner Kleinwort, where he built the hybrid derivatives business, according to Wachovia. Mo Noubir and Arsene Lahoud also joined the global rates team, based in London. Noubir, formerly a vice president at Dresdner, joined as director and head of European quantitative analysis. Lahoud, formerly a quantitative strategist at Goldman Sachs, joined as senior quantitative analyst.