WestLB has boosted its Asian fixed-income derivatives business in Hong Kong with a wave of hires following a restructuring effort. Stephen Withers, general manager of the Hong Kong branch, said the firm is now strengthening credit and local market trading in the region after restructuring the business last year. Last year WestLB shifted staff from Singapore to Hong Kong and Tokyo, to focus on the potential opportunities in China and revival in Japan (DW, 8/19).
Mark Peaker, head of sales in debt capital markets at Chinatrust in Hong Kong, has joined in a new role as head of credit sales for Asia, Peter Cheng, v.p. in interest rate and currency trading at Morgan Stanley in Hong Kong, joins as associate director in local market trading, Tim Chillington, v.p. in debt capital markets at Fortis Bank, joins as a director in credit trading, and Shaun Lynn, senior trader in credit and structured debt trading at the Commonwealth Bank of Australia in London, comes in as director in the credit trading team. Additionally, J.T. Lam, treasurer at Deutsche Bank in Tokyo, recently joined in Tokyo as head of trading and treasury for Asia-Pacific.
The firm also has relocated its back office operations for Asia from London to Hong Kong as part of the retooling.
