Goldman Preps Warrant Biz
Goldman Sachs is looking to step into the competitive Hong Kong warrants market and has hired a veteran for the effort.
Goldman Sachs is looking to step into the competitive Hong Kong warrants market and has hired a veteran for the effort. Last week high-profile warrant professional Cheril Lee, managing director in Asia ex-Japan equity derivatives and structured products at SG Securities in Hong Kong, was tapped to spearhead the business. The firm is waiting for regulatory approval but will likely offer warrants by year end.
"This is part of our strategy to broaden our derivatives franchise," said David Voon, managing director and Asia ex-Japan head of structured products in Hong Kong, adding, "Over the past 12-18 months we have focused on our institutional and high net-worth businesses. We believe the warrants product line will be a strong complement to our overall franchise." The firm is looking to establish a team of four to six staff, which will likely be a mix of internal transfers as well as hires.
Laurent Tison, spokesman at SG, did not respond to messages.