Commerzbank has hired Nick Chaudhry to run OTC client clearing and develop its offering.
Chaudhry has 17 years of experience in banking, including fixed income prime brokerage and OTC client clearing at Bank of American Merrill Lynch and Barclays.
At Commerzbank he will take responsibility for developing the bank’s OTC client clearing solutions and strengthening its product offering.
The OTC business is focused on tailored solutions for clients looking to address regulatory requirements stemming from the European market infrastructure regulation and the US’ Dodd-Frank Act. OTC clearing will form a core part of Commerzbank’s new market services product solution.
Chaudhry will be based in the firm’s London office and report to Eugene Stanfield, head of fixed income and currency derivatives clearing and execution services.