Charles Annandale, the former head of UK and Northern European equity derivatives at SocGen, has taken up a new position at the fast-growing equity derivatives boutique, XBZ.

Annandale, a veteran of the equity derivatives market, and a well-respected department head at SG, had surprised the market with his resignation in July. In his new role he will be working alongside Stephen Lindsay who was previously at UBS, and will be marketing European equity derivatives products to institutional users and hedge fund clients.