BNP Paribas has bulked up its interest-rate derivatives trading operation in Singapore with the appointments earlier this month of Roy Chan, senior dealer in the global exotics group at Standard Chartered Bank in Singapore, and Teck Chong Lee and Kang Yeong Woo, both v.p.s in the rates trading group at JPMorgan in Singapore. All three join as senior traders in the interest-rate derivatives trading group and are an expansion to the four-member team. The trio reports to Monty Argawal, head of interest-rate derivatives trading-Asia Pacific in Singapore. "We're trying to capture more of this business," said Argawal, noting that he has expanded the desk as the Asian interest-rate derivatives market is growing.
Chan said that at BNP he is covering the South Asian markets including Thailand, the Philippines and India and
Woo said he now handles Singapore dollar interest-rate derivatives. Lee noted he is now covering the Taiwan market, including interest-rate swaps, bonds, and non-deliverable forwards trading.
The trio had worked at Chase Manhattan Bank in Singapore before it merged with JPMorgan, according to Chan. At StanChart, Chan reported to Daniel Koh, Asia head of the global exotics group in Singapore. Koh declined comment.
At JPMorgan Lee and Woo reported to Edmund Ng, managing director and head of rates trading in Singapore. Ng noted that he is currently handling their responsibilities, adding that as the group is still restructuring, it has yet to be decided if the two will be replaced, declining further comment.