NAB sets up structured products desk in Singapore

National Australia Bank’s investment bank, nabCapital, has hired Peter Zeitsch as a director to build a structured products business in Singapore. He was previously head of correlation trading at Singapore bank DBS.

Cross-asset structurers Shane Dardis and Jiten Bhanap have joined the team, as director and associate director, respectively. They also arrive from DBS, where they focused on structured credit.

The desk reports to Jason Garrett, nabCapital’s head of global markets, Asia, in Hong Kong, and the plan is to add another member to the team in the coming months.

nabCapital is looking to grow its structured products business in Asia, whereas most Australian banks have traditionally focused more on London and New York, Zeitsch tells Asia Risk. To that end, nabCapital will work closely with the bank's private banking branches throughout the region.