ING Wholesale Banking has reeled in Terence Yiu, chief dealer in global fx options at ABN AMRO in Singapore. Yiu joins in a new role as head of fx options for Asia, based in the Lion City.
"There's more and more demand for fx options from clients--we're particularly looking to build up our local currency capabilities," said Mark Newman, head of financial markets at ING in Singapore. Yiu has been recruited to oversee the regional fx options trading effort and boost trading on currencies for such countries as Taiwan, Korea and the Philippines. Newman continued that a few additional hires for the desk are anticipated this year. Yiu now reports directly to Remi Dupoirieux, head of developed market foreign exchange and foreign exchange derivatives for Asia in Singapore, who was traveling and could not be reached.
Li Koon Lim, spokeswoman at ABN in Singapore, did not respond to messages by press time.
