Commonwealth Bank of Australia is gearing up to begin marketing credit derivative products in Asia from its Singapore office. "There's plenty of interest for Aussie names," said Kevin Brinsmead, v.p. in global markets sales in the Lion City, explaining that Asian clients can use Australian as well as New Zealand credit-default swaps to diversify portfolios. The structures will be hedged by CBA's Sydney trading desk. The move follows the bank's expansion of business lines in the region this year, including transferring staff from Australia to increase coverage of fx, commodities, interest rate products as well as corporate loans.
CBA Preps Credit Marketing Push
