BMO Nesbitt Burns has hired a six-person U.S. Equity Derivatives trading team. The group, based in New York, was previously with Commerzbank. The new team will join an existing three-person Toronto-based group to build a strong, proprietary U.S. equity derivatives franchise.

“We are the overall market share leader for listed equity derivative products in Canada for both clients and on a proprietary basis. Now we are expanding into the United States as part of a strategic goal to continue to build our proprietary platform,” says Eric Tripp, vice-chair, Equity Division, BMO Nesbitt Burns.

The new group will report to Patrick Cronin, executive managing director, Equity Derivatives, and Gino Martone, executive managing director, Equity
Derivatives, in Toronto.

Heading the team is Steven Lau, managing director, U.S. Equity Derivatives. Prior to his role at Commerzbank, where he was head of index arbitrage, statistical arbitrage and program trading, he was head of index arbitrage trading at Bank of America and UBS.