Crédit Agricole Indosuez has named Gin Lee, head of sales in Seoul, as its new treasurer after Y.J. Lee announced his retirement. Lee, who will also keep his existing role, said he joined the firm last year from BNP Paribas, where he was head of foreign exchange and short-term derivatives marketing in Seoul, to overhaul the fixed income and debt capital markets groups. He has hired several derivatives professionals as well as introduced new products (DW, 9/22). Most recently, Lee hired former colleague S.H. Kim, fixed income marketer at BNP in Seoul, for a similar role.
On the trading side, Lee said he plans to begin trading won-denominated interest rate options in July and offer a variety of exotic products including range accruals, extendable swaps and Bermudan swaptions. "Only a few banks have option books--we hope to become a large market-maker," he added.
