Cindy Buggins, Managing director of derivatives, Prebon Yamane

“Its a lose-lose situation,” says an employee at capital-market brokers Euro Brokers when asked about former colleague Cindy Buggins. “If I say something good, I’m helping competitors. If it’s bad it looks like sour grapes.”

Buggins left Euro Brokers in November 1996 but resurfaced late last year at one of its main rivals, Prebon Yamane. As number two in London, reporting to Garry Pithers, Buggins is now responsible for building Prebon Yamane’s derivatives and capital-markets businesses across all products.