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Derivatives

Merrill Nabs BofA Structurer

Merrill Lynch has hired Sibo Feng, credit derivatives structurer at Bank of America in Tokyo, for a similar position. Mari Kagawa, spokeswoman, said Sibo will focus on building the firm's exotic products capability in the region. Feng, who starts in the coming weeks, will report to Taro Masuyama, head of credit derivatives structuring in Tokyo, who declined comment. Feng could not be reached.

Feng is part of a spate of hires by the fixed income group in Asia in recent months. "We've been doing more business in Asia. It's no secret that everyone has been doing more in fixed income," said Osman Semerci, head of Pacific Rim debt markets in Tokyo.

At BofA, Feng reported to Sal Amery, head of the structured products group in Tokyo, who did not respond to messages.

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