Ian Clifton, co-head of rates at WestLB in London, has been named ceo of the German house for Asia. Clifton confirmed the move but said details such as when he will transfer and where he will be based have not yet been decided. Trevor Cowan is the other co-head of rates but his role after Clifton's move has also not been finalized, according to Clifton. Cowan could not be reached.
Clifton's background is in fixed income derivatives and WestLB's derivatives business in Asia will likely be a key focus for him, noted one official. WestLB has been building its presence in the Asia Pacific region over the last year and has seen a wave of hires and senior transfers. It started trading credit-default swaps on Australian names in October (DW, 10/1) and launched a cross-asset class structuring effort last April (DW, 4/18/04).
