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Derivatives

Indosuez Expands Fixed-Income Desk

Crédit Agricole Indosuez has hired three professionals for its interest-rate and credit derivatives desks. The French bank has added Pierre Trecourt, v.p. of financial engineering at Société Générale in Hong Kong, as Asian head of credit derivatives structuring, and Lucille Chu, derivative sales and trading at China Construction Bank in Hong Kong, as director for Greater China derivative sales. It has also hired Dennis Wong, interest-rate derivatives trader at Bank of America in Hong Kong, who will hold a similar role when he joins in the coming weeks, according to officials at the firm. Wong could not be reached for comment.

Trecourt reports to Loic Fery, head of credit derivatives, Asia in Hong Kong (DW, 9/23). Fery said he had worked with Trecourt at SG and was impressed by him. Fery plans to hire an additional trader for the credit effort. Trecourt declined comment.

Chu, who joined two weeks ago, noted that one of the motives for the move was to team up again with Duan Yang, executive director of Greater China derivatives sales, whom she had formerly worked with at Credit Lyonnais. Both Chu and Wong will report to Eddie Lee, head of fixed income in Hong Kong. Lee did not return calls.

At SocGen Trecourt reported to Marc Saffon, head of financial engineering in Tokyo. Saffon said Trecourt will be replaced by Jean Manuel Camguilhem, an official in the financial engineering group in Paris, who is relocating to Hong Kong this week. Camguilhem was traveling and could not be reached.

Wong's boss at BofA, Sanjay Mansabdar, principal of interest-rate trading in Hong Kong, said he has not yet decided if Wong will be replaced.

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