The Singapore branch of Landesbank Baden-Württemberg has hired Frank Tsai, former head of structured products at Macquarie Bank in Sydney, to head its new structured product business in Asia. Tsai joined the bank last week and reports to Mark Cranfield, head of capital markets for Asia in Singapore. Tsai could not be reached at press time.
Tsai will be responsible for hiring a team of around four staffers, said Cranfield. The focus will be on credit, equity and interest rate products for institutional clients, he added. "The Asian structured products business has been growing, and we want to commit more resources to the area to capture this market demand," Cranfield explained. LBBW has seen success in the structured products business in Europe, and is looking to replicate this in Asia, he noted.
