HSBC has bulked up its credit derivatives presence in Asia and has established a marketing unit for the effort. Eric Lim, executive director at Morgan Stanley in Hong Kong, has joined in a new role as Asian head of structured credit products marketing in Hong Kong. Jamie Spence, credit marketer at TD Securities in Sydney, has come aboard as a director under Lim. Lim reports to Tarun Mahrotri, head of regional trading in Hong Kong, according to John Ryan, spokesman in Hong Kong. Additionally Jacob Hoare, structured credit trader in London, and Arvind Vermani, credit structurer in New York, have both relocated to the Hong Kong desk. The moves are seen as part of a push into credit derivatives in the region that began earlier this year with the appointment of Jeffrey Tolk as head of credit structuring in Hong Kong (DW, 5/5).
Nick Footitt, spokesman at Morgan Stanley, did not respond to messages. At TD, an official at the firm said Spence reported to Chris Pashley, managing director of capital market sales in Sydney. Pashley was traveling and could not be reached.
