Dresdner Kleinwort Wasserstein (DrKW), the investment banking arm of Germany’s Dresdner Bank and part of the Allianz group, has made its first major hire following a major restructuring of its Asian operations last year. The bank named James Hong, an index derivatives expert at Morgan Stanley, head of equity derivatives trading for Japan and Asia.Hong, who will be based in Tokyo, will report to DrKW head of global equities and Japan branch manager Jean-Francois Minier. He will specifically focus on the index options business in Japan as well as managing the Asian equity derivatives trading team.
DrKW said it restructured last year to focus on areas where the bank believed it had a competitive advantage. “Equity derivatives was one of these areas globally. We are now in effect in the second phase of strengthening these activities,” Minier told RiskNews.
Minier said he had a budget for further hires in key derivatives areas, but would choose selective talent in areas that complemented the firm’s existing capabilities. Marketing is likely to be a key area.
“Derivatives is an important business, where we believe we can have a competitive advantage both from a balance sheet perspective – from our combination with Allianz – and expertise we have already accumulated in Europe that can be transferred globally,” said Minier.
Minier added that DrKW receives roughly equal demand for basic derivatives and structured derivatives products in Asia. Its Asian equity team offers execution for single stock options, warrants, convertible bonds, exotic and fund derivatives.
More on People
Other commodities moves at BTG Pactual, Koch S&T, Mercuria & Trafigura
Twelve-strong advisory committee drawn from industry, academia and public interest groups
Kieron Smith joins French bank after structured products acquisition
UK bank's head of quantitative analytics leaves after 10 years
Sign up for Risk.net email alerts
Sponsored video: MarketAxess
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.