Credit Lyonnais is beefing up its interest-rate derivatives desk in Taiwan and as part of the effort has just brought aboard Max Shyu, head of interest-rate derivative trading at HSBC in Taipei, according to Frederic Laine, head of Asia derivative products at CL in Hong Kong. Shyu joins as head of interest-rate derivatives trading-Taipei, replacing Vincent Lien, who moved to Standard Chartered in Taipei earlier this year. Shyu, who could not be reached, reports to Rosy Tsorng, treasurer in Taipei, and to Laine in Hong Kong.
"We believe that his extensive knowledge of the Taiwanese markets teamed-up with the expertise of our regional center in Hong Kong...will be an asset in the development of our interest rate and credit activities," Laine commented. As the Taiwan operation continues to grow CL will hire additional traders.
At HSBC in Taipei Shyu reported to Looi Wan Beng, head of trading, who has since been transferred to Malaysia. His replacement Joe Chen, former head of trading at Chinatrust Commercial Bank in Taipei, said he would assume Shyu's responsibilities. Chen noted that he's looking to hire additional traders and sales professionals for the interest-rate desk, as well as for foreign exchange.
