Bear Stearns is looking to expand its presence in Asia ex-Japan as it boosts its structured equity derivatives business. The firm is gearing up to increase its structured equity product offerings to clients after hiring Edward Ho (DW 3/12) and Joseph Chan, directors at Merrill Lynch, in Hong Kong. Several additional hires for the team are also expected in the coming months. "We're making sizeable investments in Asia," said Leonard Feder, Asian head of derivatives and branch manager for Japan. On the fixed income side, Feder said Bear Stearns will look to put in place several more staff in Hong Kong as well.
The move follows a similar build up in Europe and Japan over the last few years, which for instance has seen headcount in the Tokyo office double. Feder said the firm's eye is now focused on Asia. Derivatives trading for the region will remain in Tokyo but Feder noted traders could potentially be added in Hong Kong. The newly-expanded structured equity business focuses on Hong Kong, Taiwan and Singapore, offering a range of instruments, including principal-protected notes, to both institutional and retail clients.
