Yung Tan, the former director and head of Northeast Asia and Greater China high yield product group at Standard Chartered, joined BNP Paribas this week as the head of North Asia high yield capital markets at a managing director level.
Tan, who left Standard Chartered in April, will continue to be based in Hong Kong, confirmed sources with knowledge of the appointment. He reports to Sameer Sopori, a managing director and the head of high yield capital markets, Asia Pacific. He is based in Singapore.
Sopori assumed his own role at BNP Paribas in November. He also previously worked for Standard Chartered, as its global head of the high yield product group, where Tan reported to him.
In addition, Shu Duan, who was an associate director in Standard Chartered's Northeast Asia and Greater China high yield product group reporting to Tan, also left the bank prior to Tan. He also joined BNP in early June, focusing on high yield and private debt financing in his new role.
A representative from BNP Paribas declined to comment and Tan could not be reached for comment.
Tan’s earlier departure from Standard Chartered was among several senior moves from the bank’s capital markets team in 2013. His exit came one month after Anthony Arnaudy, a managing director and head of Northeast Asia debt capital markets (DCM) at Standard Chartered, was let go from the bank after three years in that position.
Arnaudy’s former responsibilities have been assumed by Karby Leggett, who was elevated to head of capital markets, Northeast Asia, at the end of 2012, and Tee Choon-Hong, global head of CNH capital market products at Standard Chartered, whose role has been expanded to include a broader China focus.
Eric Chan, managing director and head of Northeast Asia loan syndications, also left Standard Chartered by May.
In April, Joseph Lance also joined Standard Chartered as a managing director on the bank’s DCM desk for Northeast Asia, most recently joining from Credit Suisse in New York where he was the head of DCM for oil and gas, power and project finance.
His appointment also came as Ashish Malhotra, head of DCM at Bank of America Merrill Lynch (BoA-Merrill), left the bank to become the head of Asia syndicate at Standard Chartered. He accepted that role less than one month after being promoted to his last role at BoA-Merrill.
Over the past year, Standard Chartered also shifted Singapore-based Cristian Jonsson, former global head of bond syndicate, to become global head of loan syndications after long-time loans banker Philip Cracknell retired in March 2013. Aaron Russell-Davison was named to replace Jonsson as global head of bond syndicate.
The numerous changes within Standard Chartered’s DCM division have followed the appointment of Carsten Stoehr as its global head of capital markets in February 2012. Stoehr was formerly head of fixed income in Asia Pacific for Credit Suisse, but parted ways with the bank in November 2011.