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Derivatives

Deutsche Bank Asian Equity Head Resigns

Alan Lo, managing director and co-head of Asia Pacific (ex-Japan) equity derivatives at Deutsche Bank in Hong Kong, resigned last Monday. Lo, who was responsible for equity derivatives sales, structuring and marketing for Asia ex-Japan and Australia, declined all comment. Nick Fennell, managing director and co-head of equity derivatives (ex-Japan), who is responsible for the trading side, referred calls to the press office.

The departure is likely the result of a political spat between the equity cash and derivatives departments at Deutsche Bank, according to several rival bankers. They noted that Ed Peter, head of equity for Asia Pacific (ex-Japan) in Hong Kong, has been retooling the cash equity desk recently with several senior hires and is believed to have been trying to exert greater control over the equity derivatives desk. Peter did not return calls.

"Lo has to be good to have reached that level," said a head of equity derivatives in Hong Kong. The official added that Lo is a 10-year veteran of the Hong Kong equity derivatives market, having worked at Morgan Stanley, NatWest and Deutsche Bank.

Prakash Krishnan, spokesman at Deutsche Bank in Singapore, said Lo reported to Ralph Reynolds, global co-head of equity-linked products, and Rick Goldsmith, global co-head of equity-linked products, both in New York. Krishnan declined further comment.

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