Credit Lyonnais is bringing aboard Takeshi Kondo, v.p. of yen exotics trading at JPMorgan in Tokyo, as the manager of exotic derivatives in Tokyo, according to Yves Ringler, head of fixed-income at Credit Lyonnais in Tokyo. "The business is expanding," said Ringler, noting that low yields in Japan are continuing to fuel interest in exotic interest-rate derivatives. Kondo, who starts Friday, is on gardening leave and could not be reached for comment.
At JPMorgan, Kondo reported to Matt Takahashi, head of yen exotics trading in Tokyo. Takahashi said the existing team has assumed Kondo's responsibilities and that it will not look for a replacement.
