Standard Chartered has added a pair of interest-rate and credit derivatives professionals in Singapore in what is believed to be an on-going effort to spruce up its trading operation.
StanChart has just signed up Blair Kanbar, an interest-rate options trader formerly at Sanwa Financial Products in Singapore, in a similar role in the Lion City, said an official familiar with the firm's plans. Kanbar could not be reached. He will report to Mike Bass, head of interest-rate derivatives, global markets in Singapore. Bass, who recently joined StanChart from HypoVereinsbank (DW, 6/25), is said to be the driving force behind retooling the interest-rate derivatives trading effort. Bass declined all comment.
The firm also recently hired Peter Purawinada, a credit derivatives trader at Deutsche Bank in Singapore, to help set up a credit derivatives trading desk in the Lion City. Purawinada declined comment on the reasons for his move. He reports to Debbie Min, head of structured asset solutions for global markets at StanChart in Singapore. Min was on vacation last week and could not be reached. After recently establishing a credit desk, StanChart is looking to hire marketers, structurers and traders (DW, 6/3).
Kanbar will not be replaced at Sanwa FP as the firm closed its Singapore operation earlier this year, according to an official at Sanwa Bank in Tokyo.
At Deutsche Bank Purawinada reported to Leo Peck Chao, director, global credit derivatives-Asia. Leo declined to comment on the move.
Separately, Adrian Tan, senior dealer, interest-rate derivatives at StanChart in Hong Kong, joined HSBC in Hong Kong last week covering Hong Kong dollar interest-rate swaps. Tan said he reports to Anita Fung, director, head of fixed income and derivatives, Asia Pacific in Hong Kong. Fung was on vacation and could not be reached. An official close to the bank said the spot had been vacant since William Fung, an interest-rate derivatives trader, moved to Citibank two months ago.
At StanChart, Tan reported to Stephen MacLennan, head of interest-rate trading in Hong Kong. MacLennan declined to comment on the move.
