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Derivatives

Lyonnais Hires BofA I-Rate Trader

Credit Lyonnais has hired Ken Chan, interest rate options trader at Bank of America in Hong Kong, in a similar role for its Hong Kong desk, according to Frédéric Lainé, Asian head of fixed income and derivatives in Hong Kong. He declined further comment.

Market officials speculated that Chan is likely a replacement for Bertrand Hongre who joined Merrill Lynch earlier this summer (DW, 6/30). Lyonnais has been expanding its fixed-income derivatives operation in Asia this year, most recently hiring Jeffrey Chu, a structurer at BNP Paribas, (DW, 7/21) as well as staff for India, Taiwan and Hong Kong (DW, 4/28).

At BofA, Chan reported to Sanjay Mansabdar, principal of the emerging markets group in Hong Kong. Mansabdar said that existing staff have assumed Chan's responsibilities. Chan was on vacation and could not be reached for comment.

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