Indosuez Asian derivatives team unaffected by cuts

Indosuez WI Carr Securities’ Asian derivatives team will not be affected despite cuts of 300-plus staff at the investment bank throughout the region, according to a senior official at the bank. The 22-strong derivatives team will instead be integrated into Credit Agricole Indusuez’s equity arm CAI Equities.

The firm plans to focus its attention on providing value-added services in electronic execution, derivatives, structured products, trading and index tracking services, said Hong Kong-based chief executive of Indosuez WI Carr Securities, Regis Monfront. The firm also plans to reinforce its trading and derivatives capabilities by integrating its Asian operations with Europe, Monfront added.

Paul Saubestre, head of options trading at Credit Agricole Cheuvreux in Paris, will relocate from Europe to Hong Kong to assume the role of head of trading responsible for trading and derivatives activities in Asia. “The fact that Paul is now with us in Asia vouches for the determination of the group to put more resources in our trading and derivatives activities in Asia,” claimed Monfront.