Deutsche Bank has demonstrated its commitment to China in a recent reshuffle of its Asian credit derivatives team, by shifting Feng Gao, head of integrated credit trading in Singapore, to Shanghai. Gao will become co-head of global markets for China alongside Mark Wang, currently head of the institutional client group for China in Hong Kong.
"There's huge potential--we want to further explore onshore opportunities," said Wang, adding the move will allow the firm to expand its renminbi and non-performing loan business, as well as derivatives. Gao was traveling and could not be reached.
The moves are part of a major restructuring effort in Asia, which has seen David Lynne, former co-head of Asian emerging markets in Singapore, assume Alejandro Brockmann's position as Asian head of integrated credit trading and emerging markets. In turn, Brockmann has relocated to New York. Chetankumar Shah, head of global markets in Mumbai, and Wai-Hong Luk, credit derivatives trader in Singapore, have been appointed co-heads of integrated credit trading in Asia. Additionally, Bryan Yap has been given sole responsibility as head of Asian emerging markets.
