BNP Paribas is expanding its alternative risk transfer product line into Asia, planning to offer weather derivatives and insurance and accounting-related products later this year from Hong Kong. It is looking to hire a dedicated marketer/structurer in Hong Kong, said Hikaru Ogata, head of derivatives marketing-Asia. The move represents a natural expansion of the group's reach, he said, noting that it also plans to set up a weather derivatives desk in New York this summer (DW, 1/7). BNP Paribas has been marketing weather derivatives in Europe since May last year.
While BNP Paribas wants to hire as soon as possible, finding a candidate with the right skill set could prove difficult, Ogata said. The ideal candidate will have a derivatives background but also a detailed regional knowledge of insurance and accounting, he said. The hire will report to Ogata.
