Merrill Lynch is looking to build up is credit derivatives structuring effort in Tokyo on the back of growing investor demand, according to market officials. One official said Merrill is looking to hire a credit structurer as well as a marketer who will focus on CDOs. The new hires will probably report to Taro Masuyama, head of credit derivatives structuring in Tokyo, who declined comment.
Merrill completed a yen-denominated CDO earlier this year (DW, 3/31), and has several deals in the pipeline, said officials, declining to elaborate. Officials at Merrill declined comment.
"Everybody's looking to issue CDOs here," said one official. In recent weeks firms including Daiwa Securities SMBC
(DW, 6/24) and First Chicago Tokio Marine Financial Products (DW, 4/26) have unveiled similar plans.
