Two interest-rate derivative traders recently left Standard Chartered in Singapore for similar positions at other firms. Adam Moor, an interest-rate derivatives trader covering the Singapore market, has joined ABN AMRO in a similar role, covering Taiwan and Hong Kong. Moor said he moved to ABN because he was looking for a new challenge. He reports to Mack Kazi, head of interest-rate derivative trading at ABN in Singapore. ABN has no immediate plans for further hires, Kaci said.
Separately, Derek Awyoung recently moved to Citibank in Singapore as a dealer and structurer for Korean won-denominated interest-rate derivatives. Awyoung and Moor both said their reasons for leaving StanChart were unrelated. At Citibank Awyoung reports to Gan Kok Kim, head of interest-rate trading. Citibank is building up the desk and last month hired Ong Wei, a fixed income professional at Credit Suisse First Boston, to cover Singapore dollar interest-rate swaps, according to Kim. Wei noted there has been a rush of hiring in Singapore in recent months. "It's a merry-go-round in the derivatives market," he added.
Mike Bass, head of interest-rate derivatives at StanChart in Singapore and to whom Awyoung and Moor reported, declined all comment. Bass joined the firm several months ago from HypoVereinsbank. Standard Chartered has four interest-rate derivative traders and is looking to beef up, according to an official close to the firm.
At CSFB Wei reported to Charlie Chan, head of trading. Chan was traveling and could not be reached.
