Bank of Boston is expanding its derivatives trading and sales unit in an effort to widen its service to clients in the insurance, equity and credit industries.
The addition of four new derivatives specialists, announced last week, will enhance the financial risk management capabilities of its global treasury group.
"These new appointments will add significant depth to our trading and sales capabilities and allow us to deliver a more powerful set of problem- solving tools to our clients," said Derrell Hendrix, head of derivatives trading and sales unit at the bank.
The bank said E. James Hughes had joined the derivatives marketing group to serve institutional clients. He will focus on selling structured and interest rate risk management products to insurance companies, mutual funds and bank clients.
Prior to joining the bank, he worked with Westpac Banking Corp. in New York as a member of the Australian bank's global derivatives and fixed- income unit.
Also new to the marketing group is C. Mark Burgess, who joins the bank's corporate sales desk. Mr. Burgess worked four years with J.P. Morgan in New York as a specialist in structured derivatives and mergers and acquisitions.
The bank also hired former Banque Nationale de Paris swap specialist James Mather to head its interest rate swaps group.
John Fox, formerly with Morgan Stanley International in London, also joins Bank of Boston, as senior structurer.