BBVA has announced it will expand its derivatives operations in Europe, Mexico and Asia as it seeks to double its global derivatives sales. Spain’s second biggest bank is undertaking its growth by hiring whole teams away from the derivatives desks of other financial institutions. So far in 2007, BBVA has signed up more than 150 derivatives executives from all over the world, including Lorenzo Isla, the former head of Barclays’ structured credit in London, who now will be based in Madrid and will