Westdeutsche Landesbank has started trading Australian credit derivatives from its recently launched Singapore hub. The firm nabbed Nick Jones, v.p. in credit trading at Bank of America in Tokyo, earlier this year (DW, 4/4), to establish a desk in the Lion City to cover the Asia ex-Japan and Aussie markets. Jones confirmed the move but declined further comment.
The move is part of WestLB's expansion in the region, which started last year in the fixed income derivatives market (DW, 2/10/03) and gained momentum during the spring after it set up a dedicated cross-asset class structuring desk (DW, 4/18).
