The top Asian derivatives positions at CALYON, the entity created out of the Crédit Lyonnais and Crédit Agricole Indosuez merger, have been dished out with a Lyonnais pro taking interest rates and an Agricole alumnus getting the top equity role. Frédéric Lainé, Asian head of fixed income at Lyonnais in Hong Kong, has been named head of rates and fx while Eddie Lee, head of fixed income at Indosuez in Hong Kong, has been named head of sales and origination management, according to market officials. Lainé declined comment and Lee said specific roles are still being finalized. Lee added that in April the two houses will become one legal entity.
Paul Saubestre, managing director and head of equity derivatives at Indosuez in Tokyo, confirmed he has been appointed as Asian head of equity derivatives sales and trading for the entity. Saubestre noted the physical integration of the two teams in Japan will occur by the middle of the second quarter. "We want to become a major competitor," he continued, noting that the combined unit will have greater bulk to fight for a larger slice of market share. Last year Saubestre moved his firm's equity derivatives regional trading operation from Hong Kong to Tokyo to gain a larger foothold in Japan (DW, 5/19).
In Korea, Indosuez's Gin Lee, treasurer in Seoul, was recently appointed as head of capital markets in Seoul. Also, Edward Willems, head of distribution at Lyonnais in Tokyo, will transfer to London to assume a new role as global head of non-flow fx, interest rate and commodity sales (DW, 1/18).