Santander axes Fenlon’s post in derivatives rejig

Santander has restructured its property derivatives trading desk and made Andrew Fenlon’s post of head of property derivatives redundant. Helen Dixon will continue to cover property derivatives at the bank.

Property derivative volumes improved in the final quarter of last year. There were £276m of All Property swaps in 79 trades, plus a further 15 trades, totalling £64m, on the Eurex futures exchange, taking total property derivative trading volumes for Q4 to £340m.

The figures were higher than in the previous two quarters. The total swaps volume for the year was £934m, plus £173m that was traded on the Eurex exchange. Eurex is planning to launch sub-sector trades for property in the near future.