Calyon is aiming to claim a podium position in the equity-linked products market in Asia and is ramping up its group to achieve that. "Our vision is to be in the top three in Asia within three years," said Dickson Cheung, managing director and head of equity derivatives marketing and sales for Asia ex-Japan at Calyon in Hong Kong.
The firm is looking to build up its integrated equity derivatives desk with additional hires in the coming months including two marketers, two traders and a warrant specialist. "We'll have one of the largest equity derivative desks in the region," said Cheung, noting that the additional hires will bring the staff count to well over 30.
On the product side, the firm recently rolled out its first retail structured note in Hong Kong under the new entity, an 18-month worst-of structure linked to a basket of domestic stocks and distributed by local banks. Cheung said the firm is looking to follow up on the structure with additional worst-of notes in late October and early November. "The general public wants low cost structures that offer higher gearing," he continued.
