Crédit Agricole Indosuez has hired Medes Ma, trader in the Asian credit trading group for treasury and capital markets at HSBC in Hong Kong, in a new role as credit trading manager for Indosuez's recently established credit derivatives desk in Hong Kong. "This hire further increases our capacities to grow a liquid market in Asia," said Loïc Fery, head of credit derivatives-Asia at Indosuez in Hong Kong. Ma, who starts at the end of the month and will handle trading for both Japanese and non-Japan Asian credits, will report to Fery. Ma was on gardening leave and could not be reached.
This is part of Indosuez's expansion for the credit derivatives desk in Hong Kong that was launched last year and spearheaded by Fery (DW, 9/23) with the subsequent hire of Pierre Trecourt, v.p. of financial engineering at Société Générale in Hong Kong, who joined as head of credit derivatives structuring, Asia (DW, 1/20). Additionally, Fery noted that he is considering establishing a presence in Japan by hiring a credit derivatives structurer or marketer in Tokyo later this year. "We're looking at the possibility of putting people in Japan," said Fery, adding that Hong Kong would remain the regional trading hub.
Ma joined HSBC last year to establish the bank's credit derivatives operation (DW, 4/29/01). He reported to Wick Veloso, head of Asian local currency debt trading in Hong Kong. Veloso noted that the firm is bringing in an internal replacement for the position.
