Dresdner Kleinwort Wasserstein (DrKW) has established a new capital markets division by merging its equity and debt markets operations to offer fully integrated cash and derivatives services to clients.“Clients have been requiring more and more complex solutions to their problems and more inter-related solutions,” said Jean-Francois Minier, head of Japanese and Asian capital markets and Japan branch manager for DrKW. “By putting the global equities and global debt divisions together, it will definitely help us solve their problems in a much more efficient and innovative way, and in some circumstances in a more cost-efficient way,” he added.
Structuring and marketing of equity, credit, fixed income, foreign exchange and hybrid-yield enhancement products will now be housed under the same roof. DrKW head of sales and marketing for Japan and Asia, Paul Morgan, said corporates looking for hedging solutions prefer this integrated approach. “They don’t want coverage on equity solutions from one person and debt solutions from another.”
Meanwhile, DrKW also plans to continue building up its credit derivatives capabilities. “Credit derivatives is one area where we’re still building up,” said Morgan. “Certainly that’s an area where it makes sense to invest and we’ll continue to do so.” He added that the bank may add two new hires to the structured credit team in Tokyo in the coming months, with one new hire due to start shortly. He declined to comment further.
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