IXIS Corporate & Investment Banking has established a credit derivatives structuring desk for Asia out of Hong Kong as part of a push in the region. Laurent Benissan, senior credit structurer at Standard Chartered in Singapore, joins as a director to kick start the desk.
"We seriously believe this market will grow in the region and the regional diversity makes it compulsory to have strong local structuring capabilities," said Michel Labrousse, senior executive officer in Hong Kong. Previously credit structuring for Asia was facilitated out of the Paris headquarters. Labrousse said a handful of staff will join the credit structuring desk in the coming weeks for the expansion.
Additionally, Sharon Lin, convertible bond trader at JS Cresvale Securities in Hong Kong, joins as a v.p. for equity derivatives sales for Taiwan in Hong Kong, noted Labrousse.