Shinsei Bank is looking to boost its nascent derivatives operation and expand into equity products by recruiting an equity derivatives trader to lead the buildup. "We're looking for a key hire," said Marten Touw, head of the markets division in Tokyo, adding that after a senior equity derivatives trader is brought aboard, there is the potential to build a team under him. Touw joined Shinsei last year from Standard Chartered Bank where he was the head of global markets for North East Asia (DW, 2/18/01).
Shinsei, which means "rebirth" in Japanese, was formed from the remnants of The Long-Term Credit Bank of Japan. It currently offers interest-rate and foreign exchange derivatives. Additionally, the bank has structured such products as equity-linked deposits. For the equity derivatives operation, the trader will look to handle both customer flows as well as principle positions for the bank. "It's our intent to become more involved in this market," added Touw.
