Nomura Securities is bulking up its equity derivatives desk and nascent fund-linked business in Hong Kong with hires and transfers. "We're in the process of team building," said John Robson, who came on board fromMerrill Lynch to kick start a fund derivatives business and boost the firm's equity derivatives presence in Asia (DW, 4/8). The plan is to bring the desk up to seven salesmen and six equity derivative traders from the existing three sales staff and one trader.
The firm will shortly relocate Shawn Riley, equity derivatives trader in London, to Hong Kong to develop the exotic business as well as expand trading from Hong Kong and Singapore to also include Korea and Taiwan.
Additionally, Robson said the desk recently closed its first fund-linked trade, a principal-protected fund linked to Morgan Stanley global property funds. Nomura is next preparing to issue a principal-protected product linked to a European-based absolute return credit fund in the coming weeks.