Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Dresdner Bank AG, has announced another senior appointment in its Asia credit derivatives business, luring Maurizio Raffone to the firm from Bear Stearns.

Raffone will be based in Tokyo and joins DrKW as a director and head of structured credit products. In his new role, he reports locally to Paul Morgan, head of sales & marketing for Asia-Pacific and on a functional basis to Rick Weinstein, head of credit derivative structuring in London.

At Bear Stearns London, Raffone was a member of the European CDO team and prior to this role, also held positions at Deutsche Bank in London and Tokyo. His CV also includes CSFB in London where he executed transactions ranging from CDOs and other credit derivative structures to asset securitisation and principal finance.

The hire comes on the back of two recent hires in the Japanese credit business. In March, Kozue Kanamori moved to DrKW London as a director and senior structured products marketer from CSFB, while Shingo Itoda joined the German investment bank's Tokyo offices in a similar role in April.