ING Financial Markets is shifting its Hong Kong-based regional equity derivatives desk to Singapore. "This is part of the restructuring that started last year--the equity desk is the last batch," said a Hong Kong-based official. Sales and trading staff are in the process of relocating, while a sales team covering Hong Kong and China will remain in town, explained the official.
ING centralized all fixed income and fx trading in its Singapore hub last year, moving staff from Hong Kong for the initiative (DW, 12/2/03). Edwin Bernard, Asian head of equity derivative product sales and now in Singapore, was on vacation and could not be reached.
