Bear Stearns has hired Yves Ringler, fixed income derivatives trader at the former Crédit Lyonnais in Tokyo, in a new role as a managing director in fixed income derivatives trading in Tokyo. Ringler, who starts this week and will handle yen swap trading, could not be reached. "We've had three significant hires to strengthen our desk," said Raymond Wong, head of fixed income trading in Tokyo, referring to Edouard Hervey, credit derivatives trader at BNP Paribas in Tokyo, and Clement Sereni, fixed income trader at Lyonnais in Tokyo, who joined in similar roles. "This shows we believe there are still a lot of opportunities in the region," Wong continued.