Dresdner Kleinwort Wasserstein has set up a new team to sell structured credit and derivative products to retail investors, and hired ex-JP Morgan banker Alberto Garcia Elias to run it.

Garcia Elias joined the German bank's London team this month after spending 11 years at JP Morgan, where he was a managing director in the credit and rates division. His arrival comes four months after Dresdner Kleinwort Wasserstein combined its derivative businesses into a single global group covering several asset classes.