Lehman Brothers is moving its equity volatility trading team from Tokyo to Hong Kong to target increasing market in non-Japan Asia, said Jonathan Wharton, spokesman in Hong Kong, confirming the team move and declining to further comment. Market officials said five or six staff will relocate for the effort next month. Benjamin Fuchs, head of equity financial products for Asia, based in Tokyo and overseeing the business, did not return messages.
Lehman watchers also explained the firm has been shifting more trading from the Tokyo hub to Hong Kong to place dealers closer to its regional marketing staff. For instance, the firm relocated credit derivatives trading to Hong Kong earlier this year for non-Japan Asia CDS.
