ABN AMRO is retooling its Asian credit derivatives operation following the loss of its two most senior Singapore-based credit derivatives professionals to UBS Warburg earlier this year (DW, 1/26). It will transfer David Crammond, senior v.p. and head of structured sales in New York, to Singapore in the coming weeks. Crammond confirmed the move, but declined further comment.
Dhimant Shah, credit derivatives trader in Singapore, said the bank wants to refocus its effort in "Asian-time", adding that he recently moved from credit structuring to trading to bolster the desk. Chris Lebern, former head of the legal department, earlier this year transferred internally to take on credit derivatives structuring in Singapore, noted Shah. ABN shifted Asian credit trading to London following the loss of the staffers to UBS.
