Royal Bank of Scotland is expanding its equity derivatives presence in Asia following a senior hire. "We're looking to build this business up for the Greater China market," said Franklin Heng, head of equity derivative sales for Asia ex-Japan, based in Hong Kong. Heng came on board from HSBC, where he was head of wealth management sales for China, to spearhead a build up at the U.K. house.
The bank is looking at a broad range of business segments including structured investments for private banking clients in Hong Kong as well as equity-linked deposit structures on the mainland. Heng said he is aiming to hire a few additional marketers, declining to elaborate further.
The move follows a push this year in Japan where the firm launched an equity derivatives desk by recruiting a team from BNP Paribas (DW, 3/3).
