Merrill Lynch has hired Eugene Yeung, equity derivatives structurer at Macquarie Bank in Hong Kong, as a v.p. for its strategic solutions group in Hong Kong. Yeung said he will focus on third-party distribution for equity derivatives, such as retail and private banking clients. Underlying equities will include names from Hong Kong, Japan, Singapore and the U.S. He reports to Abhinav Gorawara, managing director in the strategic solutions group in Hong Kong, who did not return messages. At Macquarie he reported to Peter Moses, head of structuring in Hong Kong, who did not immediately respond to messages.
Separately Rig Karkhanis, managing director and head of fx and local-currency trading for the Pacific Rim, has relocated to establish a trading desk in Hong Kong, according to firm officials. This follows the transfer in January of an fx Asia sales team from Tokyo to Hong Kong (DW, 1/27).
