Standard Chartered Bank has hired Adrian Fong, v.p of rates trading at JPMorgan in Hong Kong, as chief dealer of Hong Kong dollar interest-rate derivatives. The hire is part of the firm's plan to bulk up its fixed income derivatives capabilities, according to Dennis Wong, Northeast Asia regional head of interest-rate derivatives in Hong Kong (DW, 10/14). He added, "Adrian will reinforce our market-making capabilities for Hong Kong dollars." Previously Wong held this role but he said it has added a layer of management to build up the team. Fong, who is due to start this week, was on gardening leave and could not be reached for comment.
The firm is looking to hire two fixed-income structurers within six months who will cover the entire range of fixed-income products including structured interest-rate products and credit derivatives, said Wong. He added the firm will also look to hire an additional marketer to focus on interest-rate products.
At JPMorgan Fong reported to Aaron Poon, head of rates trading in Hong Kong. Poon said JPMorgan is looking for a replacement, adding, "there's plenty of good people out there looking for new opportunities."
