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Lyonnais Plans I-Rate, Credit Push

Credit Lyonnais is planning to bulk up its interest-rate and credit derivatives desk in Hong Kong in the coming months. "Year-end is a good time to complete the extension of our desks," said Frédéric Lainé, Asian head of fixed-income and derivatives, adding that it plans to complete its hiring process for next year in two months. The new recruits will report to Lainé.

Lyonnais is looking for two traders and two sales professionals for its interest-rate desk and will also look to hire two credit structurers for the effort. "This is a natural extension of the business," continued Lainé. The firm began its push into credit derivatives in Asia earlier this year (DW, 7/23). "Credit Lyonnais was lagging a little bit behind in Asia for credit derivatives. It's time to catch up," he added.

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