AIG Financial Products is setting up a cross-product derivatives desk in a planned operation in Hong Kong. "We see a lot of potentials in Greater China," said an official. The firm has a long-running Japanese business, for which it launched a structured private placement desk in Tokyo by hiring a team from JPMorgan last year (DW, 4/8).
Aditya Rana, executive director at Morgan Stanley in Hong Kong, will establish a CDO structuring effort for Asia, as was first reported by DW's Web site Tuesday. Market officials familiar with the situation said Rana will join in the coming weeks to oversee the credit and CDO structuring effort for the region. Rana worked at Morgan Stanley for over a decade in rates and credit derivatives, most recently heading up credit derivative sales and structuring for the region. He did not return messages placed to his mobile phone by press time.Robert Breden, head of Asian investment grade trading and structuring at Morgan Stanley in Tokyo, did not respond to messages by press time.
