Bear Stearns last week started structuring equity derivatives in Hong Kong just weeks after putting a team and systems in place. "We've been working non-stop to get this business up and running," said Leonard Feder, Asian head of derivatives and branch manager for Japan. Edward Ho, senior managing director, and Joseph Chan, managing director, joined in March from Merrill Lynch to establish a structured equity business in Hong Kong (DW, 3/18), while Lemuel Lee, associate, joined the team from Merrill two weeks ago.
Ho said, "We're already seeing good interest from private and commercial banking clients for a variety of structures including baskets on both Asian and U.S. underlying."
