Icap has expanded its property derivatives business into the Asia-Pacific region. The new office will be headed by George Dranganoudis in Singapore, who has held senior roles at the UK-based interdealer broker in Asia and Europe in the past decade.Icap said there is increasing demand for these instruments from the interbank community, hedge fund managers, asset allocators and property-related industry groups globally. The broker already offers such services in Europe and the US.
“The need for derivatives-based structured solutions is highlighted by the recent dislocation and volatility in global markets and the scarcity of effective risk-mitigation tools for property-sector participants,” said Paul Rostas, head of property derivatives at Icap.
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