HSBC has hired Steven Phan, head of the funds and active strategies structuring and trading team at Merrill Lynch in London, to boost its global fund-linked business. Phan joins in London as managing director and co-head of global structured fund products. Albert Yu, head of derivatives and structured products marketing for the Americas in New York, is the other co-head. Yu declined comment and Phan referred calls to the press office. Neil Brazil, spokesman for HSBC in London, confirmed the move. At HSBC, Phan and Yu will have a dual reporting line to Samir Assaf, head of fixed income and derivatives trading for Europe in London, and John Paganucci, head of derivatives trading for the Americas in New York. Phan's hire follows the addition of a pair of fund-linked structurers to HSBC two weeks ago (DW, 4/15). At Merrill in London, Phan's former role was divided up following a reorganization of the equity-linked business (DW, 2/4).
HSBC Hires Merrill Honcho For Fund Biz Buildup
