Royal Bank of Scotland has boosted its credit derivative presence in the region, kick starting a trading desk in Singapore and making a senior hire in the form of Mark Sewell. A credit derivatives trader at UBS in Sydney, he joins in a new role as head of illiquid credit trading for Asia, and will be setting up a trading unit in the Lion City.
"This is part of our continued expansion in Asia," said Trevor Vail, Asia-Pacific head of credit trading and structuring in Tokyo. The firm has been building credit trading capabilities in Tokyo as well as structuring in Hong Kong, through waves of hires in the last year as part of a dedicated push to move up the ranks in fixed income in Asia (DW, 3/18).
Additionally at RBS, Kevin Hsu, interest-rate structurer at Calyon in Hong Kong, has joined in a similar capacity for the ex-Japan Asia rates structuring desk in Hong Kong, noted Jeffrey Chu, head of rate structuring for Asia.
