Credit Suisse’s head of Asia equity derivatives sales retires

Min Park, regional head of equity derivatives and convertibles sales, is retiring from his role at Credit Suisse

Min Park

Min Park, Asia-Pacific head of equity derivatives and convertibles sales at Credit Suisse in Hong Kong, is retiring after four years at the bank. Park joined Credit Suisse in June 2009, along with Ken Pang as co-heads of equity derivatives and convertibles from UBS, where they had led the rival Swiss bank's Asian equity derivatives business.

At Credit Suisse, Park was responsible for derivatives and convertibles sales, distribution and structuring, while Pang was responsible for trading, risk management and infrastructure development. Pang is understood to still be at the bank. Both report to Ali Naqvi, head of equities, Asia-Pacific at Credit Suisse.

Park was previously head of all derivatives sales for non-Japan Asia at UBS. Before joining UBS, he held a range of equity derivatives marketing and structuring positions with Merrill Lynch and Bankers Trust in Hong Kong and Seoul.

Park is the latest high-profile departure in the equity derivatives and structured products business in Asia over the past six months. The sector has seen a structural reorganisation at Citi resulting in the axing of Harold Kim's position as head of structured products Asia-Pacific; the departure of Dominique Blanchard, global head of derivatives, from Daiwa Capital Markets following the bank's decision to retreat from the over-the-counter derivatives business; and Rabobank's decision to shut its equity derivatives operations in Asia and Europe. However, a source with knowledge of the matter says it was Park's decision to retire and that he was not pushed.

Park is still at the firm and his exact departure date could not be determined by press time. A Credit Suisse spokeswoman declined to comment.