Dai-Ichi Kangyo Bank is entering the derivatives business, having hired away a top swaps professional from Security Pacific Corp.

Denise Boutross, formerly cohead of the global interest rate and currency risk management group at Security Pacific, has joined DKB as an executive vice president directing day-to-day activities of the new business.

DKB will be offering interest rate swaps, currency swaps, and other related products.

"Our overall goal will be to combine sound technical advice, timely information, and creative ideas to meet client needs," Ms. Boutross said in a prepared statement.

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