BofA's head of equity derivatives sales returned to SocGen

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Guillaume Arnaud

Guillaume Arnaud, Bank of America's head of equity solutions sales and structuring for Europe, Middle East and Africa (EMEA), who left the firm earlier this February has returned to Societe Generale where he worked for nine years before joining BofA in late 2015.

Arnaud rejoined his former French employer as the head of quantitative investment strategies in London earlier this month, according to his LinkedIn profile.

A Masters in Science from Ecole nationale des Ponts et Chaussees, Arnaud began his career at Dexia in 2005 as interest rates derivatives engineer and shifted to BofA one and a half year later. At BofA, he served as the head of equity and credit pricing and solutions in London.

As we reported previously Bank of America has suffered several departures from its equity derivatives business. Alongside Arnaud, Alexander Askling, head of Nordic equity derivative flow sales, Selma Sekkat, head of French equity derivatives sales, and Whitfield Hines, head of EMEA equity derivatives flow sales left BofA in February 2018. These exits were followed by the departures of Roy Martins, head of global equity swaps distribution, Alexandre Fleury, global head of exotics trading, and Florent Sabot, head of exotic equity trading for EMEA and Asia in March.

BofA's equity derivatives exodus comes as banks like Goldman Sachs and Credit Suisse are competing heavily for equity derivatives talent. Goldman has made some significant hires for its equity derivatives business in the last few months, whilst losing staff too. 

Equity derivatives revenues are expected to rise as clients seek to hedge against rising volatility in equities markets. A report by research firm Coalition says that SocGen ranked second in the world for equity derivatives trading revenues last year, behind JP Morgan, whereas Bank of America ranked between and 10th and 12th.

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