Lehman raids Merrill team

The new additions would bolster Lehman's growing derivatives group in the City, following the addition of a new marketing head for fixed-income derivatives from Goldman Sachs, earlier this month.

Although neither bank would confirm the moves last week, sources close to Lehman and Merrill suggest the three new hires are Asif Ghiawadwala, Giles Coppell and Andy Price.

Ghiawadwala focused on exotic options at Merrill, while Coppell and Price worked on vanilla options.

Lehman's current global op