Bank of America Merrill Lynch (BAML) has made redundant a number of senior roles in its equity derivatives business as part of a wider headcount reduction across all business lines.

Emmanuel Girod, global head of equity derivative exotic trading at BAML in London, has left the US firm. Girod was responsible for index and single stock exotics and correlation trading. -áBefore joining BAML in 2006, Girod worked at Credit Suisse from 2000 as trader.-áPreviously, he worked at BNP Paribas, where he spent three years trading structured products in Hong Kong, and four years previously as a quant analyst in Paris.

Stewart Jones, working in equity derivative distribution, UK, has also left the bank. Jones covered both institutional and retail clients, and joined BAML in 2010.-áPrior to joining BAML, Jones worked in a similar role at JPMorgan reporting to Laurent Ichard, head of European equity derivatives flow sales. Before that, Jones worked at UBS until 2009, originally a six-month stint in CPPI structuring, before he was transferred to structured equity derivative sales and appointed managing director in UK retail structured sales.

Mehdi Nayebi, structured equity derivative sales in the Middle East and North Africa (Mena) region has left the US bank's headquarters in London. Nayebi joined BAML in 2010 and was charged with covering structured product sales into Middle Eastern accounts. Prior to that, he worked in the structured products team at Deutsche Bank for six years, where he focused on structured equity derivative sales.

According to a recent Bloomberg report, a number of senior traders have been let go after the bank informed employees in equity sales, cash equity, trading and research, that it was planning some redundancies in mid-March. Workers were told that the dismissals were meant to free room to hire outsiders while leaving headcount almost unchanged, Bloomberg said.

A number of structured products providers are reducing staff and aligning costs with lower revenue from trading and underwriting.

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